Do you think a house with a 70-year property right can stand for 70 years without collapsing?

Currently, apart from a few major cities like Beijing and Shanghai where there might be houses with a 70-year lease, other cities still feel like they belong to that batch from the 1990s.

I have an old and run-down property in a scenic area of Hangzhou. A few years ago, it was quite valuable because it was in a school district, but now it has really dropped in price. However, compared to the decline, it’s more about waiting for future redevelopment. After all, the location is still decent, and it won’t end up like the current birdcages.

To be honest, I don't really understand why people in China prefer birdcages instead of the kind of detached houses found in North America. My relatives have a detached house in Japan, and to be honest, it's quite comfortable. I don't understand why, despite Japan being much smaller in area than China, detached houses can be a norm there.

Can someone who understands answer this?