And leave the death traps to the next owner ?

Probably the house will become a small flat and the house demolished, so all the deadtraps will be gone... If it doesn't, the new owner will rewire as the many remodelations that the house will need.

And leave the death traps to the next owner ?

Anyone with a modicum of common sense will have a survey done before buying, so will be well aware of any potential problems.

The extent to which surveyors actually check things may vary around the planet... Over here they (broad field surveyors, not electrical specialists !) dont check the electrics on any functional level

It's common sense (although I will admit for something that should be common, it's often far from it). If I were buying a property, unless I was buying it as a restoration project, I would want to know it was in 100% condition. I would arrange for a complete survey of everything from foundations to roof before so much as putting down a deposit. If you're going to be spending hundreds of thousands of pounds, dollars or whatever, you don't (or you shouldn't) take any chances. If you do, more fool you if something goes horribly wrong.

You would. Most people i know would probably check to see that the electrics "work", maybe look at the panel to see that it doesnt look "scary", but are unaware of the need to check anything beyond that. Besides, i have found in houses things with electrics that i can bet even professional inspectors would not find (some of that plastered in walls)

As I said, more fool you (or whoever it is) if something goes wrong. There's an old saying, "buyer beware" and it applies here more than anything, if only because of the value of property these days.

Nobody will have to worry about the house conditions... Here they are building small flats, and all what they need is a decent sized terrain, and my house terrain is one, the rest of the house goes to the floor.

This is more like a personal situation...

Besides, i have found in houses things with electrics that i can bet even professional inspectors would not find (some of that plastered in walls)

So true. Home Inspectors have a clause/disclaimer in their contract basically saying that they are doing their best but can't guarantee to catch every single thing, and will not be held liable for it.

I was reading about that Chinese electrical wire importer in Australia and she is going to jail for a long time as every building that has her wire in it needs it removed and a lot of them burnt down to, 100s of millions of dollars worth of damages and a few people dead,  I think it had fake safety ratings printed on it.

Wow, didn't hear about that here, where did you see the story..? That sounds awful, but that's always been the problem. The Chinese will make what you pay them to. If you want top quality stuff then they are perfectly capable of making it, but it won't be cheap. Tell them you want cheap crap and that's what you'll get. Safety isn't in their vocabulary, only money.

Back in 2007/08 one of the big importers of PC hardware in Israel was importing Linkworld power supplies (under the names Boxter and later G-Pro and LG-tech). Those are by far the worst of the worst of the power supplies (not on par even with the rest of the "Chinese no name boxes")

But now i'm about the cable (Israeli plug to IEC320 C13) that came bundled with them. Those cables tended to just explode and catch fire randomly at the middle of the cable. What happened was, they used some thinnish (0.2mm^2 ?) braid of metal that didnt even look like Copper, it was dark and it was slightly springy and slightly pulling to magnets

The strands tended to break in random places throughout the cable length, so significant current would start traveling from strand to strand in the cable. Eventually one strand would remain in circuit, or the contact between strands would become particularly high resistance in some spot, or the last strand would break and ignite a series arc with the PC load. This would burn through the isolation between strands, now creating a parallel arc that exploded blasting a hole through the cable isolation. If this happened in a dirty flammable corner under a desk and next to other flammable stuff, a fire would happen...

As far as i know no one ever pointed that out. Some house fires at the time were reported as "PC caught fire" but i think at least some of them were really about those cables

The same importer is still around but since 2009 onwards they import more decent stuff

When I worked in China, sometime around 2004 I met a fellow American in China, asked him what he was doing there.

He had ordered electric scooters (that he designed) from a manufacturer in China. He did his due diligence and had samples made, the samples were up to his specifications. So, he had that manufacturer makes thousands of them. He received his shipping container in USA, sold all of the scooters to USA customers, then the problems began. Poor performance and fires during charging.
He found that the wires he specified as 10AWG were NOT 10AWG, they were equivalent to 18AWG, BUT the plastic insulation was super fat to make the wire look like 10AWG to the eye.

So, why was he in China? He had taken the Chinese manufacturer to court, and of course, the racist Chinese court found in favor of the Chinese company. He swore he'll never work with China again. He lost a lot of money over that! He was sued in the USA!

@Ash: We had a steam cleaner with flex like that. When it died and we replaced it, I cut off the cable to reuse, and stripping off the insulation I saw exactly what you describe  

It really surprised me given that Vax is a well known name 

With longer cable it is even more scary, in case of a short at the load end of the cable (or in the load itself), the cable resistance might be high enough to prevent tripping of 16A breaker or 13A fuse