But the actual building, at least in New England, is much superior in strength to the buildings of 100 years ago.
For example, the framing method used 100 years ago is called a balloon frame in which the exterior wall studs were run full length from the sill to the eave and the floor joists (much undersized by todays standards) were hung off a 3/4" ribbon let into the studs. A fire started in the basement would rush up the exterior walls and fully involve the house faster than you could run up the stairs.
Todays houses are built using what is known as a platform frame, in which each section is framed independently and bears its load directly on the framing below. This system has its own built in fire-stops.
It would be too long winded to go into an total explanation of why today's framing methods are superior, but there is one example.
When people tell me, "They don't build 'em like they used to" my stock reply is, "They don't let them."
In my view, having been in the game for over thirty years, the two main causes in the rise of home prices is the governments inflation of the dollar and the rise of the regulatory state.