Demand for self-storage and moving services in the US is expected to increase 4.2 percent per year to $71 billion in 2020. Advances will be driven by increased mobility nationwide, as residents and businesses are starting to relocate at higher rates following the recession and extended slow recovery. Growth will also stem from the lack of storage space in many US homes. Some people move to get more storage space, while others living in urban areas have less in-home storage and seek supplemental space nearby. Additionally, people are increasingly comfortable storing hobby items, craft supplies, collectibles, and seasonal items away from their homes, and businesses are willing to store excess stock, company records, samples, and seasonal décor away from their primary locations. The trend of off-site storage is also fed by more previously unfinished storage spaces in basements, attics, and sometimes garages being finished for use as living space, leaving less room in homes for storage. Additionally, as more baby boomers downsize, family heirlooms and other large possessions will increasingly be kept in storage.
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