Dictionary of Real Estate Terms: incurable depreciation or obsolescence
incurable depreciation or obsolescence
a defect that cannot be cured or that is not financially practical to cure; a defect in the "bone structure" of a building. Compare curable depreciation.
Example: It is estimated that if a specific house had a more convenient floor plan, it would sell for an additional $5,000. The poor floor plan is incurable depreciation because the cost to correct is greater than the market value increase that correction would bring.
