Which condition is a typical result of Economic Obsolescence?

Economic obsolescence refers to a loss of value in a property due to external factors that are beyond the property owner's control. This can include changes in the surrounding area, such as increased crime rates, declining economic conditions, or shifts in consumer preferences that make a location less desirable.

When market conditions decline, properties may experience a reduction in demand, which directly impacts their market value. This is reflected in option B, as it captures the essence of economic obsolescence—when the external economic landscape causes property values to drop, despite the physical condition of the property itself remaining unchanged.

The other options represent different issues. Aging physical structures relate more to physical depreciation rather than economic factors. Shifting tenant demographics can affect property values but primarily through supply and demand dynamics rather than external economic reasons. Structural deterioration reflects issues with the property itself, rather than the surrounding economic environment. Thus, option B is the clearest representation of economic obsolescence.