Comment by dredmorbius

There's no intrinsic reason balloon-framed housing has to be poorly insulated, and properly-insulated (and wrapped) balloon-framed construction is actually far better insulated than the "well-insulated" thick-walled structures based on stone, packed earth, brick, etc., which traditional half-timbered or masonry structures offer.

There is of course a large stock of extant housing which pre-dates best-standards insulation practices, though much of this can be improved dramatically at relatively low cost, especially by improving siding ("wrapping") and insulating attics. Thicker walls (nominal 2x6 rather than 2x4, or greater) can also be retrofit, either extending the exterior or interior wall dimension, though at considerably greater cost, and with trade-offs to either exterior or interior dimensions (lot size, environment, or reduced interior volume).