Housing Obsolescenace and Depreciation

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Abstract
Just as people are growing older in the United States, so is its housing stock. How housing ages and what the appropriate points of intervention are during this aging cycle are important considerations for local planners. The field is as yet underdeveloped. The literature that planners must turn to for guidance comes laigely from economics, geography, real estate appraisal, and planning. It is a disparate field, presented here from the perspective of planners. Topics include similarities in demography and housing analysis; estimates of housing longevity and depreciation paths and the widely varying conclusions about them; behavior of owners and investors and the difficulties they face in making rational estimates of market trends; and, finally, national policies about the importance of caring for an aging housing stock and the prevention of "premature obsolescence."

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