Short answer: yes it is common for a building not to last long periods of time (unless properly maintained). I recall a civil engineer telling me once that most “tract” homes only are designed for a 35 year useful life. While I can’t find a reference for that, I did find this Quora article from a structural engineer:
Answer to What is the design life span of a building? by Vishnu Vijayakumar https://www.quora.com/What-is-the-design-life-span-of-a-buil...
Note: while he quotes 60-80 years, the concrete is still in that 30-40 year timespan.
I think you would be very lucky to get a few decades without the need for any major repairs or upgrades. It too know people who live in houses that have some features that are centuries old, but none of them are living in the exact house that was constructed centuries ago.
The distinction is meaningful as the comments earlier in the thread are talking about how long a new car will last before it needs work (beyond your basic oil changes, etc.). If you are willing to put money into major repairs and upgrades, there is no real reason why a vehicle cannot last centuries as well, as classic car enthusiasts can attest.
Perhaps mortgages should have longer terms too?