Jon dives into six significant changes in the self-storage industry that have emerged since 2021. One of the main points he emphasizes is how the landscape for buying storage facilities has become increasingly challenging; deals that once promised to double in value within a year are now harder to find. He discusses the shift from a focus on rapid value increases to a more cash-flow-oriented approach, highlighting the importance of long-term stability in investments. Jon also reflects on how underwriting now includes a variety of fees that were not considered before, and he stresses the necessity of adapting to current market realities, such as occupancy rates and customer service expectations. Overall, this episode is packed with insights for anyone looking to navigate the evolving world of self-storage investments.