Storage Auctions

The Storage Locker => General Storage Auction Talk => Topic started by: Travis on July 02, 2014, 06:23:34 PM

Title: Who do you think is more likely to go into foreclosure, a man or a woman?
Post by: Travis on July 02, 2014, 06:23:34 PM: Who do you think is more likely to have their storage unit go into foreclosure, a man or a woman?

We're actually analyzing 1,000 names taken from legal notices to answer this question. Gender neutral names were excluded. I should have the results of the survey in a few weeks.

In the meantime, anyone care to speculate?
Title: Re: Who do you think is more likely to go into foreclosure, a man or a woman?
Post by: alloro on July 02, 2014, 07:35:14 PM: A woman.
Title: Re: Who do you think is more likely to go into foreclosure, a man or a woman?
Post by: luke on July 02, 2014, 07:48:37 PM: Men...
Title: Re: Who do you think is more likely to go into foreclosure, a man or a woman?
Post by: bakerben on July 02, 2014, 08:03:41 PM: its gonna be men by a land slide. mainly because with almost ANY couple, the man is going to get the unit and load it.
Title: Re: Who do you think is more likely to go into foreclosure, a man or a woman?
Post by: Alias300 on July 02, 2014, 11:06:07 PM: Well if you just look at how many units were foreclosed on I'd say men.
But if you broke down percentages, how many men's units were foreclosed on divided by units rented by men, and same for women, I'd guess percentage wise it may be women.

I don't know to many women that rent units for other than a drastic economic downturn in their life.
Plus women like to keep stuff they really like on hand. Units women rent tend to be stuff they don't want to give away but really could do without, easier to say F it and let it be foreclosed on. Men seem to rent units to keep stuff they really want.

Tho, could be women are more sentimental and some more materialistic and would keep paying....?

I dunno. Besides, I think I've made enough totally sexist remarks already......
Title: Re: Who do you think is more likely to go into foreclosure, a man or a woman?
Post by: alloro on July 03, 2014, 11:01:45 AM: Quote from: Travis on July 02, 2014, 06:23:34 PM
We're actually analyzing 1,000 gender neutral names taken from legal notices to answer this question. I should have the results of the survey in a few weeks.

If they're gender neutral names, then how are you going to know how many are men and how many are women?
Title: Re: Who do you think is more likely to go into foreclosure, a man or a woman?
Post by: Alias300 on July 03, 2014, 11:48:57 AM: I was wondering that too.
Title: Re: Who do you think is more likely to go into foreclosure, a man or a woman?
Post by: Travis on July 03, 2014, 01:23:34 PM: Quote from: alloro on July 03, 2014, 11:01:45 AM
If they're gender neutral names, then how are you going to know how many are men and how many are women?

Sorry, that was a typo. I meant to say gender neutral names were excluded.
Title: Re: Who do you think is more likely to go into foreclosure, a man or a woman?
Post by: Travis on July 07, 2014, 11:28:00 AM: We're about half way through the name analysis and so far the results are surprising. My original hypothesis was that gender wouldn't make a difference and that the results would be about equal. But so far, one gender is about 25% more likely to go into foreclosure.
Title: Re: Who do you think is more likely to go into foreclosure, a man or a woman?
Post by: luke on July 07, 2014, 01:18:06 PM: Quote from: Travis on July 07, 2014, 11:28:00 AM
We're about half way through the name analysis and so far the results are surprising. My original hypothesis was that gender wouldn't make a difference and that the results would be about equal. But so far, one gender is about 25% more likely to go into foreclosure.

Are you doing the analysis in a certain city? It'll be hard to make a global statement unless it was done based on regional data that includes many different data points from that region.
Title: Re: Who do you think is more likely to go into foreclosure, a man or a woman?
Post by: Travis on July 07, 2014, 02:34:34 PM: Quote from: luke on July 07, 2014, 01:18:06 PM
Are you doing the analysis in a certain city? It'll be hard to make a global statement unless it was done based on regional data that includes many different data points from that region.

The data was gathered from the 5 largest cities in Texas. Male to female ratio varies 1-4 points in all cities.
Title: Re: Who do you think is more likely to go into foreclosure, a man or a woman?
Post by: luke on July 07, 2014, 03:10:34 PM: Quote from: Travis on July 07, 2014, 02:34:34 PM
The data was gathered from the 5 largest cities in Texas. Male to female ratio varies 1-4 points in all cities.

Does that ratio, include ages? I think the min age to rent a locker is over 18, at this point the male/female ratio will dip in favor of female. A lot more males serve our country then females.
Title: Re: Who do you think is more likely to go into foreclosure, a man or a woman?
Post by: Travis on July 07, 2014, 05:30:34 PM: Quote from: luke on July 07, 2014, 03:10:34 PM
Does that ratio, include ages?

The male to female ratio data I'm quoting is from the census bureau. If I recall correctly, there are slightly more males in 4 of the cities and I believe about 1% more females than males in Houston.
Title: Re: Who do you think is more likely to go into foreclosure, a man or a woman?
Post by: luke on July 07, 2014, 05:42:52 PM: Here's the chart where you can exclude 18 and under..

http://factfinder2.census.gov/faces/tableservices/jsf/pages/productview.xhtml?src=bkmk
Title: Re: Who do you think is more likely to go into foreclosure, a man or a woman?
Post by: Travis on July 07, 2014, 07:18:54 PM: Thanks
Title: Re: Who do you think is more likely to go into foreclosure, a man or a woman?
Post by: Travis on September 12, 2014, 11:12:42 AM: Okay, the results are in. We analyzed 1000 gender specific names, taken from the legal notices of 157 random storage facilities. The results of the study show women are 6.4% more likely to get behind on their storage payments. This study only shows which gender went into default more often, not who was actually foreclosed upon.

Totals:
Men: 468, Women: 532

So, I guess the next question is, do women rent more storage units than men?
Title: Re: Who do you think is more likely to go into foreclosure, a man or a woman?
Post by: luke on September 12, 2014, 03:09:05 PM: Or do women collect more junk then men?
Title: Re: Who do you think is more likely to go into foreclosure, a man or a woman?
Post by: Broski1984 on September 14, 2014, 06:57:23 PM: Having been in and out of a lot of storage facilities - and not just when buying a unit or storing personally - I'd say that one of the reasons may be what each party stores.

A man is more likely to store valuables or things he at least values. He's also, I'd imagine, more likely to sell items he deems "worth" something in a time of need than a woman. I've known a lot of guys who store car parts, merchandise, their "mancave" items, etc. in a storage unit but very few who store their entire house or personal items. Most of the ones who I've known who DID store their whole house or personal items only did it because of financial ruin (divorce, loss of a house, what have you) or due to having far too much crap/a hoarding issue.

On the other hand, women it seems are more likely to store excess stuff, personal items they want but don't need, a relative's (kid, dead parent, whatever) junk to "go through later", etc. Plus, you have a lot of single mothers who may be forced to rent one due to financial or space constraints.

It being slightly skewed towards women doesn't surprise me, and I wouldn't be surprised if womens' units didn't go up for sale more often. That said, I don't think it is necessarially the fault of the women; finances or lack of interest in the stuff is more likely than pure flakiness.
Title: Re: Who do you think is more likely to go into foreclosure, a man or a woman?
Post by: Travis on September 15, 2014, 12:10:01 PM: Here is the article we published about the results.

http://onlinestorageauctions.com/study-reveals-women-slightly-likely-men-fall-behind-storage-payments/
Title: Re: Who do you think is more likely to go into foreclosure, a man or a woman?
Post by: rulesforrebels on September 16, 2014, 08:42:48 AM: hmm interesting. i would guess men.
Title: Re: Who do you think is more likely to go into foreclosure, a man or a woman?
Post by: Travis on September 20, 2014, 07:05:02 PM: According to a poll taken on Self Storage Talk, men seem to rent more storage units than women.

selfstoragetalk.com/polls/4117-more-male-female-customers.html
Title: Re: Who do you think is more likely to go into foreclosure, a man or a woman?
Post by: alloro on September 20, 2014, 10:20:17 PM: Quote from: Travis on September 20, 2014, 07:05:02 PM
According to a poll taken on Self Storage Talk, men seem to rent more storage units than women.

So in summary less women rent units yet more of them default than men. I knew that was going to be the answer when I made the first reply in this thread. Have you figured out why it is yet, or do I have to tell you that too?
Title: Re: Who do you think is more likely to go into foreclosure, a man or a woman?
Post by: Travis on September 20, 2014, 11:37:52 PM: Quote from: alloro on September 20, 2014, 10:20:17 PM
Have you figured out why it is yet, or do I have to tell you that too?

I think Alias may have hit the nail on the head.

Quote from: Alias300 on July 02, 2014, 11:06:07 PM
Well if you just look at how many units were foreclosed on I'd say men.
But if you broke down percentages, how many men's units were foreclosed on divided by units rented by men, and same for women, I'd guess percentage wise it may be women.

I don't know to many women that rent units for other than a drastic economic downturn in their life.
Plus women like to keep stuff they really like on hand. Units women rent tend to be stuff they don't want to give away but really could do without, easier to say F it and let it be foreclosed on. Men seem to rent units to keep stuff they really want.

Tho, could be women are more sentimental and some more materialistic and would keep paying....?

I dunno. Besides, I think I've made enough totally sexist remarks already......
Title: Re: Who do you think is more likely to go into foreclosure, a man or a woman?
Post by: alloro on September 21, 2014, 11:30:49 AM: Quote from: Travis on September 20, 2014, 11:37:52 PM
I think Alias may have hit the nail on the head.

Okay, you hang onto that thought. :D
Title: Re: Who do you think is more likely to go into foreclosure, a man or a woman?
Post by: Travis on September 21, 2014, 11:47:52 AM: Quote from: alloro on September 21, 2014, 11:30:49 AM
Okay, you hang onto that thought. :D

I started a similar thread on Self Storage Talk, and ironically, a storage facility owner responded almost identically.