Depends - if you have an HOA with a painting requirement, the HOA will have a painting company come in to paint the house and bill you - if you fail to pay, they will put a lien on your house. If you do not have an HOA or a painting requirement, all that happen s is your house looks like crap.

If you have wood siding it will get damaged from weather much faster. Wood siding must be painted about every 3-5 years depending on you climate to protect the wood from dry tot, moss & mold.

If you don't paint it will look bad, but it will also potentially allow the siding to be damages from weather. The paint seals and protects the wood siding.

your neighborhood looks like the ghetto or some 3rd world country (oh, same thing)