Incurable depreciation refers to items of depreciation that either are physically impossible to cure or are too expensive to be worth curing. If the cost to fix the problem exceeds the loss in value caused by the problem, then it does not make economic sense to repair it.
Incurable deterioration is a type of depreciation that is considered incurable even if the repairs were to be made. In simple terms, the cost of repairing the item(s) exceeds the value it would add, and, therefore, there is no economic benefit to fixing them.
Economic obsolescence refers to the loss of value of a real estate property that is caused by factors that are external to the property.
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