Interest Rates – What’s In Store?
When most self storage owners wake up in the morning, they don’t usually think about the Federal Reserve Open Market Committee (FOMC). Most owners are busy managing occupancy, controlling costs, and overseeing the operations of their self storage business. On a daily basis, these tasks are far more important than decisions made by Federal Reserve Chairman Jay Powell, and the rest of the FOMC. At the same time, the Fed Funds rate that is established by the FOMC has an enormous impact on the value of self storage facilities.