"As land values increase, we see more units on a single property, which means many of those individual units are smaller," said Greg Martino, MPAC Vice President and Chief Valuation and Standards Officer.
MPAC is responsible for determining property values in Ontario, so do they know a thing or two about this topic. (https://www.mpac.ca/en)
If structures wear down, how long until they reach zero value? Have you seen many houses for sale in the zero dollar range because of depreciation?
it is not obvious that structures wear down. As i posted below, many of these houses are from the 1700's
Given your choice of spelling, it would appear Manhattan is not your core knowledge as well?
https://www.blogto.com/real-estate-toronto/2022/10/toronto-c....
"As land values increase, we see more units on a single property, which means many of those individual units are smaller," said Greg Martino, MPAC Vice President and Chief Valuation and Standards Officer.
MPAC is responsible for determining property values in Ontario, so do they know a thing or two about this topic. (https://www.mpac.ca/en)
If structures wear down, how long until they reach zero value? Have you seen many houses for sale in the zero dollar range because of depreciation?
it is not obvious that structures wear down. As i posted below, many of these houses are from the 1700's
https://spearswms.com/10-oldest-houses-in-the-world/
Which one do you feel has depreciated to zero?