Then you can expect even more housing crunch. It’s simply not realistic to updates homes 50-100 years old without significant cost which old retirees can’t really afford. Some of the new codes would force pre-war homes to be completely tear down. For example, asbestos sidings which would require the homeowners to move out of the house. Bubble wrap the house and do mitigation work. After that, massive amount of interior work to ensure safety. Toss in electrical, plumbing, and lead paint, you might as well do a new construction.

Reality simply doesn’t work this way. Just like we allow people to drive old ass cars that aren’t safe for the passengers but will pass emission inspections.