Wood housing is more susceptible to mould and pest issues than brick, and if you live where there are termites, the eco-cost of ongoing treatment has to be added to the normal cost. It can be extremely toxic. If you live where rain is frequent, brick lasts much longer.

When considering natural disaster, flexible wood frames are excellent for areas that are earthquake prone, less so for fire. In some parts of the world, the cost associated with using a fire resistant external wood is just too high. Ironbark is fire resistant, but very expensive and difficult to shape. Insurance may refuse to cover housing in fire prone areas without specific metal or brick window surrounds.

Generally it's insect and wet damage, however.