Yes, the self-storage industry has shown remarkable resilience over the years. Even during economic downturns, self-storage businesses tend to remain stable or even experience growth. There are several reasons for this:

1. Demand: People need storage space for various reasons such as moving, downsizing, renovation, or simply decluttering. This consistent demand helps keep the industry stable.
2. Lack of Alternatives: There aren’t always viable alternatives to self-storage for people who need temporary or long-term storage solutions. This lack of substitutes ensures that the demand for self-storage remains relatively constant.
3. Flexibility: Self-storage facilities offer flexible rental terms, allowing customers to rent space for as long or as short a period as they need. This flexibility makes them attractive options for individuals and businesses alike.
4. Population Growth: With population growth comes increased demand for housing and subsequently for storage space. This trend further supports the stability of the self-storage industry, especially in urban areas.
5. Business Storage Needs: Businesses often require additional space for storing inventory, equipment, or documents. Self-storage facilities can cater to these needs, providing a reliable revenue stream.
6. Real Estate Investment: Self-storage properties are often seen as attractive investments due to their relatively low maintenance costs and stable returns. This investor interest contributes to the overall strength of the industry.

Overall, the combination of steady demand, lack of substitutes, flexibility, and investment attractiveness helps keep the self-storage business strong even in challenging economic conditions.