In this post we take a critical look at this important aspect of ownership. Functional obsolescence is the reduction of an items desirability or. These example sentences are selected automatically from various online news sources to reflect current usage of the word 'obsolescence.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Industrial buildings with elements of functional obsolescence can create a variety of difficulties for their owners. This is a form of accrued devaluation examined in the cost approach to market pricing. I also discussed calculating functional obsolescence in the cost and sales comparison approaches. In my article on functional obsolescence, I indicated that it is very complicated to understand and to estimate. In other words, a property could become functionally obsolete when its design, style, amenities, or technology no longer meet the needs and/or expectations of modern tenants. Laura Hercher, Scientific American, 1 June 2022 IPhones are now equipped with music streaming, advanced cameras, maps with GPS navigation and many more functions, all factors that contributed to the iPod’s obsolescence.Īllison Prang, WSJ, Expect fire sales across corporate America as Companies sort through inventory obsolescence. My previous two articles were about estimating physical depreciation and functional obsolescence. Functional Obsolescence is the impairment of a real property’s functional capacity due to changes in market tastes and/or standards. Gregg Opelka, WSJ, 28 June 2022 The fear of obsolescence creeps up on several characters in the book.Įrin Douglass, The Christian Science Monitor, 6 June 2022 Contrary to the arguments that the casino had made, Tiverton had indeed taken economic obsolescence into account, Robert told the casino in a denial letter.īrian Amaral,, Experts hypothesize that embryos can self-correct when healthy cell lines outperform the competition, pushing the aneuploid cell lines into obsolescence. This entry about Curable Functional Obsolescence has been published under the terms of the Creative Commons Attribution 3.0 (CC BY 3.0) licence, which permits unrestricted use and reproduction, provided the author or authors of the Curable Functional Obsolescence entry and the Lawi platform are in each case credited as the source of the Curable. Danziger, Forbes, 5 July 2022 Amid speculation of a 2024 run and talk of a Grover Cleveland replay, there’s an inescapable drawback looming over a third Trump bid for the White House: obsolescence.

Recent Examples on the Web Until, that is, her choice of practical footwear transformed festival fashion and helped save a heritage boot maker from the brink of obsolescence.ĬNN, 23 June 2022 But people and the planet pay a heavy price for indulging in the fashion industry’s obsolescence plan. What is an obsolescence factor Obsolescence risk is the risk that a process, product, or technology used or produced by a company for profit will become obsolete, and thus no longer competitive in the marketplace.