Which of the following is generally considered to be an incurable form of depreciation?

Economic obsolescence is considered an incurable form of depreciation because it arises from factors external to the property itself, often affecting its value and appeal. This type of depreciation is typically due to changes in the neighborhood, such as industry decline, increased crime rates, changes in zoning laws, or undesirable developments nearby. Since property owners cannot directly control or remedy these external factors, the depreciation is deemed incurable.

In contrast, physical deterioration and functional obsolescence can often be remedied through repairs or upgrades, making them curable forms of depreciation. Physical deterioration refers to wear and tear that can be fixed through maintenance, while functional obsolescence results from design features that are outdated or inefficient, which can also be improved. Interior obsolescence, although related to functional aspects, usually focuses more specifically on aspects within the home that may be considered outdated or impractical, which are also typically rectifiable.