Today’s real estate markets, including self-storage, are slower than in years past. Much of what you hear today is all about interest rates and what the Fed is going to do next. Sellers are hoping to get yesterday’s prices and most of the buyers today tend to be very experienced self-storage owners/operators who are being much more disciplined with their underwriting. Thus, the market for buying and selling self-storage is slower and more difficult these days. How long will it last? History tells us that real estate cycles are almost always longer than we expect, and the normal cycles are usually about three to seven years. But is the current market, and coinciding interest rate environment, really that bad?