The rate of depletion has been gradual even when housing prices are declining.

I declined to offer anything and knowing my innocence as the property owner  (who is who the claim goes against and not the property manager) I requested an investigation.  

You never declined showing the place to him.

I get that pgh had population declines starting from the 60s.

We have been asked by a nursing group but we don't have any furnished units and now, post covid, the market in in decline is my understanding.

According to the FNB House Price Index residential property prices have declined relative to inflation for the second year running.Let me paint a quick picture of the South African property market: Consumer Price Index (Inflation) sits at 4,5% while property prices have only increased by 3,3%. 

I know that if I eat less than 2000 calories of healthy food and exercise I will lose weight, but until I actually do it...Meet some people who are doing it.

I declined the offer due to low fee, however, now have inside information. 

The metro, or specifically houses in the actual city, may have experienced zero appreciation, but many in-demand suburbs did over those decades (regardless of any population decline).

Yet when a neighborhood  declines, the real estate holder incurs big losses.