Property Valuation
In North Dakota, 'economic obsolescence' affecting a residential property near an oil field might be caused by:
AOutdated kitchen appliances
BIncreased truck traffic and industrial odors from nearby oil operations✓ Correct
CA cracked foundation
DAn old roof that needs replacement
Explanation
Economic (external) obsolescence results from negative factors outside the property, such as proximity to industrial operations. Near North Dakota's Bakken oil fields, increased industrial traffic and odors can diminish residential property values.
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