Depreciation
External obsolescence
Value lost through influences outside the property boundary
A new landfill next door, a factory closure that empties the town, a motorway routed alongside. Also called economic obsolescence, and it is always incurable from the owner’s side because nothing they do to their own lot removes the cause.
How the exam asks about it
"Always incurable" is the fact the item is built on, and it follows from where the cause sits.
Related terms
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