For good reason: if you don't take care of the regular maintenance people die. Homeowners are notorious for not doing maintenance until it is too late unless the maintenance is also cosmetic. (fortunately for roof and siding when it looks bad it is bad, and most other parts of a house don't wear out)
The original comment was almost certainly about zoning regulations, not safety regulations. Obviously inspecting elevators so people don't plunge to their deaths is something we know how to do.
Yes, I was a being tongue-in-cheek at the expense of clarity. The elevator, in combination with advances in building materials and engineering, allows for construction of high-rise condominiums. These lower the cost of housing by improving the efficiency of land use. Regulation prevents this technology from being used in many of the areas where it is needed most.