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Regression occurs when a property's value is reduced because of its association with other properties that are of lower quality or have different characteristics. This can happen when a property is located near other properties that are in poor condition or have lower values, which can bring down the value of the neighboring properties.
Let's say you own a home in a neighborhood where there are several properties that are in poor condition and have not been well-maintained. This can have a negative effect on the value of your home, even if your home is in good condition and has been well-maintained.
"Wit & Whimsy with the Dumb Ox: Unlocking Knowledge with Rhyme:"
Regression, a property's pain,
Value reduced by neighbors' disdain,
Poor conditions or inferiority,
Can bring down the value, what a pity!