Americans collectively have more than five billion items sitting at home that they no longer use, according to a 2019 survey by online marketplace Mercari. One-click shopping and the globalization of overseas manufacturing has made it easier than ever for consumers to acquire goods. According to the Self Storage Association, an industry trade group, more than 10% of households in the U.S. rented a self-storage unit in 2020, 18% more than in 2005. The self-storage industry has continued to outperform during the pandemic, with several companies reporting strong occupancy and healthy demand, according to the research site Yardi Matrix. But with headwinds threatening the economy will self-storage companies like Public Storage and Extra Space Storage be able to maintain their momentum? And what will new disruptors like Neighbor and Clutter mean for the future of the industry?
Tag Archives: Economics
The Economy: ‘Why Is Inflation So Low?’ (Video)
In the past two decades inflation has puzzled economists by remaining low in good times and bad. Could the pandemic cause it to rise?
Tourism In 2021: Egypt Sees ‘Slow Return’ After 70% Plunge In 2020 (Video)
Egypt’s tourism sector is eying a gradual recovery after revenues plunged by nearly 70% to $4 billion in 2020 due to the coronavirus pandemic, the tourism minister and travel companies said.
Egypt, a country linking northeast Africa with the Middle East, dates to the time of the pharaohs. Millennia-old monuments sit along the fertile Nile River Valley, including Giza’s colossal Pyramids and Great Sphinx as well as Luxor’s hieroglyph-lined Karnak Temple and Valley of the Kings tombs. The capital, Cairo, is home to Ottoman landmarks like Muhammad Ali Mosque and the Egyptian Museum, a trove of antiquities.
INTERVIEWS: ‘2020 NOBEL LAUREATES IN PHYSIOLOGY, PEACE, PHYSICS, CHEMISTRY AND ECONOMICS’ (VIDEO)
Cecilia Gralde in Stockholm speaks to this year’s Nobel Laureates in Peace, Physics, Chemistry, Physiology or Medicine, and Economic Sciences about the theories, discoveries and research behind their awards, and the value of science in dealing with the global pandemic.SHOW LESS
Economics: How The Fed Aims To Support Minority Workers (WSJ Video)
Recent changes to the Federal Reserve’s monetary policy framework could boost prospects for marginalized groups. Raphael Bostic, President of the Federal Reserve Bank of Atlanta, explains.
Salaries: Why American Teachers Earn Much Less Than Other Professions
Teachers earn nearly 20% less than other professionals with similar education and experience, according to the Economic Policy Institute. In many states, their wages are below the living wage, forcing teachers to seek secondary jobs to supplement their income or leave the profession all together.
Since the outbreak of the coronavirus pandemic and the rise of remote learning, the challenges faced by educators has become increasingly demanding. Some organizations are trying to redesign teacher pay structures in some of the 13,500 public school districts nationwide. Watch the video above to learn more about why teachers are paid so little and how to fix that.
Health: ‘Travel Bubbles’- Can They Revive Air Travel?
Travel bubbles are under development in some places in an effort to revive air travel, which has plummeted during the pandemic. WSJ explains how reopening the skies without quarantine requirements at both ends of a trip could help reboot the global economy.
Illustration: Crystal Tai
Travel: Can Airlines Recover In 2021? (Video)
After losses of €100 billion in 2020, will next year see air travel take off again? We speak to Alexandre de Juniac, the head of industry body IATA.
Oil & Climate Change: ‘The Economics Of Drilling In The Arctic’ (CNBC Video)
The Arctic is not a barren, frozen wasteland. It’s home to some of the most unique ecosystems in the world. More than this: it’s home to people. Those people are at the center of the controversy over drilling for oil in the Arctic. The Trump administration is now starting the formal process of selling leases in the Arctic National Wildlife Refuge to oil companies, according to the New York Times. The move comes after the Trump administration opened the refuge for oil drilling in August 2020. There are potentially billions of dollars in untapped oil and gas reserves in the Arctic. But, there is value in keeping the region untouched, too. The Arctic provides more than $281 billion per year in fishing, oil, mineral extraction, tourism and climate stabilization services, according to a preliminary assessment done in 2016 by environmental economist Tanya O’Garra, who worked at the Center for Research on Environmental Decisions at Columbia University at the time the research was conducted.
Energy Economics: How China Plans To Go Carbon Neutral By 2060 (Video)
In the biggest climate commitment made by any nation, China pledged to go carbon neutral by 2060. While it will be challenging for Beijing to achieve its goal, China’s plan to become a green superpower will have ripple effects around the world.
Illustration: Crystal Tai
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