Which of the following factors can lead to economic obsolescence?

Economic obsolescence refers to a reduction in property value caused by factors external to the property itself. This can occur due to changes in the environment or community that affect the desirability or usability of the property.

Public transportation changes can significantly impact economic obsolescence. For instance, if a public transit line is rerouted away from a property, or if service is reduced, it may become less attractive to potential buyers or tenants who value easy access to transportation. This can lead to a decrease in property values, as the convenience associated with access to public transportation is a critical factor in real estate desirability.

The other options refer to issues that are more internal to the property itself, such as layout problems, aging materials, or management issues. While these can lead to depreciation in property value, they fall under physical and functional obsolescence rather than economic obsolescence, which is rooted in external factors affecting the property’s market appeal.