wrote:
The wood siding on my chimney touches the shingles where it meets the
roof. You can see from the picture at
http://home.comcast.net/~niel3507/siding.jpg that when it rains, the
siding wicks up moisture, causing some peeling and rotting. The corner
pieces of the chimney box, which seem to be 1x2s and 1x4s, are also
rotting upward. However, once those corner pieces rot up enough, water
stops wicking and the rotting stops. The flashing under everything is
keeping water from leaking. When I took the picture, it hadn't
rained for two weeks, and the siding was not mushy.
I know if this were siding touching the ground, I would be open for
termites. But this is 35 feet in the air. Plus, the siding is not new
(I bought the 18-year-old house last year). I'm pretty sure it's
as old as the house.
What will happen if I do nothing?

I'm not sure why you are asking this question. It almost sounds like
you are looking for approval to discontinue required maintenance and
repairs. Ignoring roofing/siding/rot problems is not a wise idea under
any circumstances. I would sell furniture or a car if I had to before
I'd let the damage continue.

It will continue to rot as rot doesn't follow your logic. If it did,
no one would have to repair rot because "once those corner pieces rot
up enough, water stops wicking and the rotting stops." If only.

I don't understand why you wouldn't repair such localized damage as
soon as possible. Delaying such repairs is guaranteed to blow lots
more money down the road. You won't be saving any money. It's not the
right thing to do for the house or your wallet.

The fact that the siding is so close to the roof is always a problem.
There are a few things wrong in that picture - someone was saving some
time. Are you willing to bet large amounts of your money on your gut
feeling that the rot will stop and that the visible problems are the
worst of it? I'm in - I don't even care what odds you give me as it's
a sure bet and found money.

R