According to latest reports, it has revealed that with the incoming of Autonomous Cars and the frequent use of ride sharing services like Uber, Lyft etc; The self storage industry is set to undergo a major negative scaling. Researchers impose on the fact that, people will own fewer cars therefore they will use their garages for storage space instead of self-storage facilities.
The report warns investors to consider the impact of changing trends in transportation and how they will affect property values in the long term. Although, according to the Wall Street Journal, things are on the brighter side for E-commerce related businesses, with the arrival of driverless trucks.
The larger impact of autonomous vehicles come 2030, could also benefit parts of the commercial real estate sector. Top malls in urban areas would become less reliant on parking, and downtown office buildings may become more appealing for companies because commutes would become easier.