Saying that any older house is better than any newer house seems pretty foolish. There were bad houses built 40 years ago and bad houses being built now, just like good houses.
Guess nobody here has been in a 100 year old farmhouse that has air flowing right through it, or a 40 year old house (think every old house on pleasant park) with aluminum wiring, poor foundations that are now crumbling away, with maple tree roots growing through the sewer drains.
I think the only drawback to a new house is if it's in a new neighbourhood that used to be swampland, like a percentage of Kanata houses. It takes years for underground water tables to shift, usually until the source of the water is diverted. As long as development in the area continues, the chances of underground water flooding diminishes.
The land my house is on is dry, fortunately. The builder was a wanker, but the location is great. I wouldn't want to live there in 20 years though.