Jason - The `design life' for both timber frame buildings and masonry buildings was until recently given at circa 60 years, but the `design life' for masonry buildings was recently increased to 100 years.
The inverted commas are because we know that this is a highly conservative estimate, and most buildings regardless of what material is used, last for much longer than this.
Heavy timber frame frame buildings, can last for centuries, depending on how they were built, and in particular what kind of timber was used in their construction. It is also true to say that many masonry buildings have lasted for thousands of years.
During the medieval period, the `holy grail ' for church builders was to construct them (including their roof structures and covering) out of masonry, rather than timber, because they knew that timber, can catch fire, rot, or be subject to both fungal, and insect attack which did not affect masonry.
Even today, architects and designers in the home of timber frame construction (the USA) have noticed, that after hurricanes in the mid west and east coast, and forest fires on the west coast, it was masonry buildings, or the masonry parts of timber frame buildings which survived the best, so there is an increasing trend there to build in masonry in these areas.
In countries such as the US and Australia which are relatively rich (and with relatively high energy consumption) the internal environment is kept viable in both cold and hot weather using C02 producing heating and air conditioning systems. In poorer countries, viable internal temperatures are achieved using high thermal mass structures (typically mud brick walls)
The ARUP studies show that in identical dwellings built in timber frame and masonry, the timber frame buildings energy use will exceed that of the masonry buildings (including the embodied energy of the materials used) in as little as 20 years, but where air conditioning is used to maintain viable internal temperatures during hot summers in lightweight building with low thermal mass, this crossover point could be in as little as 11 years after completion of the building.
Like any building method / material it will generally be fine provided it is designed and built in accordance with the properties of the material/s being used.
Some materials however are not as tolerant as others, to the effects of poor design, and construction practice. and to an extent can also be affected by the way in which a particular building is used and maintained.