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> individual home owners would be stuck unable to sell their property, because it would drop in value. (even if they could sell it, not everyone would want to buy it). i am not sure if that's good or bad.

It's good because it would motivate owners to own only as few houses as possible (to minimize work on updates), and many more people could own a home then.

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It would cause prices to go up because in order to sell it has to he up to code, meaning renovations. It would likely cause consolidation of ownership, something like 70% of all apartments in my area are owned by the same company. And since they have consistent rules... It can be hard for certain people (those with criminal records) to find affordable housing.

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