There is a special and direct economic relationship in real estate between Time and Value: as land becomes scarcer and appreciates, the improvements on the land are subject to obsolescence and depreciate. Obsolescence is an economic variable used by governments, economists, appraisers and Realtors that reflects the fact that the building sited on a piece of land ages with time, just like me. And, unlike wine, a building that ages with time does not get any better, again just like me. No wonder that I am in real estate