Which aspect of depreciation is almost always considered incurable?

Economic obsolescence is considered almost always incurable because it stems from external factors affecting the property’s value, such as changes in the surrounding area, economic downturns, or shifts in local demand. When a property loses value due to factors that are outside the control of the property owner—such as a declining neighborhood or new regulations—it is referred to as economic obsolescence.

Unlike other types of depreciation, which might be addressed through repairs, renovations, or updates, economic obsolescence cannot be rectified merely through physical adjustments to the property itself. This makes it incurable; owners can't change the external conditions that are causing the decreased value.

In contrast, physical deterioration, internal obsolescence, and functional obsolescence can often be addressed through various means such as maintenance, upgrades, or redesigns, effectively mitigating their impact on property value.