Property Valuation
In South Carolina, which factor would most likely cause a property to experience 'economic obsolescence'?
AAn outdated floor plan
BA nearby plant closure causing widespread unemployment and population decline✓ Correct
CA leaking roof
DAn oversized garage
Explanation
Economic obsolescence (external obsolescence) is caused by forces outside the property — such as nearby plant closures, economic decline, or new negative land uses. It is typically incurable and reduces market value independent of the property's own condition.
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