I think we will see a reckoning of this in USA in the next few decades. "Classic" houses like colonial or victorian style houses are venerated and preserved, bu

I think we will see a reckoning of this in USA in the next few decades. "Classic" houses like colonial or victorian style houses are venerated and preserved, but live on mostly due to survivorship biases. These were the houses of the elite, and they could afford better building materials or adornments deemed historically valuable. Most houses built since 1920 don't have the same value. But the meme of "old=worth preserving" still lingers on. In San Francisco there are old row homes built as temporary housing after the 1906 Earthquake. They are preserved only due to their age, not any intrinsic value. Houses built in first half and mid century are developing major structural issues. Their foundations may be cracking beyond repair. Their plumbing and electrical are several generations beyond current standard. They may have been built in a more temperate climate and lack central heating/cooling. Their layout may not make sense for a modern lifestyle. These houses should be torn down, and new ones built in their place. But this is really difficult to do in some areas due to preservation committees holding on to every scrap of history. Instead you get completely insane practices like gutting a house except for 4 posts and rebuilding a new house within it. Or building a new houses around an old one. The lot next to my apartment was like that. Instead of razing the structure and building a new one, they had to engineer a way to build a new house around what was a literal rotting shack. The new structure retains almost 0 of the original framing, and definitely retains none of its architectural features. So the project cost probably hundred of thousands more, and took months longer, just to satisfy some petty council's need to never tear down an old building. As the oldest generation dies off, I would hope to see these attitudes change, and the USA open to more rebuilding. But unfortunately these rules will remain on the books. The capital class has no incentive to change it, because it would disrupt their control over the housing supply.