Why is woodwork relatively meager in modern homes?
Getting rid of the kids would be fairly simple if you put them to work as indentured carpentry apprentices making all those beautiful banisters.

Honestly the answer is several fold:

1) stately homes like that require immense upkeep and refurbishment which means money that most people don't have;

2) wear, tear, termites, and age don't mix well;

3) design and taste changes as quickly as a new magazine is printed; 

4) many of these homes were built prior to current electrical and fire codes often making them deathtraps; and

5) given the previous four, demand has driven the experience necessary to turn these pieces out of economic reality. Supply and demand.

I'm sure there are other reasons, but I'm betting these five rank in the top ten.

I am all ears for more!