external obsolescence
Definition
Incurable depreciation caused by factors not on subject property, such as environmental, social, or economic factors.
Use this term in a sentence
“ You should try to make sure that your product does not ever have the chance of reaching any external obsolescence. ”
“ The external obsolescence was really interesting and we had a lot of problems figuring out what we would do next in our company. ”
“ The abandonment and subsequent decay of several neighboring properties was an external obsolescence we had not counted on when we purchased our home ten years ago. ”
