That said, I think the difference is overstated. I have lots of friends who live in craftsmen homes. They resell at basically the same price as similar sized houses built 25 years ago (even with single pane windows ect) . If somehow you got one that wasn't upgraded since 1920, you are looking at a few tens of thousands to put in electrical, plumbing, and appliances.
Still, you are right that that they are not the same. But a lot of people today would kill to own a beautiful new craftsman home for 40k! I wouldn't trade out my car for a horse, but I would trade 40k a year rent for a craftsman home!
The point is that even you wanted to replicate an original craftsman home today, you wouldn't be able to do it for that price, even ignoring regulations. Labor costs have gone up, wood has gone up, minimum cost of every material used has gone up.