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No, but it’s common that they do. Gravity furnaces weren’t terribly efficient so wrapping either the ductwork in asbestos, the furnace itself, or both, was something done regularly. This allowed the system to retain more heat. At the time, this greatly enhanced the efficiency of the furnaces but it wasn’t until later that we became aware of just how carcinogenic and dangerous asbestos could be.

Asbestos siding can be dangerous, but it doesn't necessarily pose a health risk if it's in good condition and left undisturbed. The danger comes from inhaling asbestos fibers, which can be released if the siding is damaged, deteriorating, crumbling, or disturbed during remodeling or repairs. Exposure to these airborne fibers can cause serious, life-threatening diseases like asbestosis (lung scarring), mesothelioma (an aggressive cancer), and other lung cancers.

If your asbestos siding is intact, the general recommendation is to leave it alone. However, if it's damaged or you plan to renovate, it's crucial to handle it safely. Due to the significant health risks and the difficulty of containing the fibers, it is not recommended to perform any asbestos work yourself. Instead, you should hire a professional asbestos removal company to inspect, repair, encapsulate, or remove the material. The presence of asbestos can also negatively impact your property's value.

It is not recommended to drill into asbestos siding because doing so can release hazardous asbestos fibers into the air. The safest way to handle asbestos-containing materials is to have a professional remove or encapsulate them.

Even a single, one-time exposure to asbestos can be harmful and pose health risks. According to the EPA, any contact can increase the risk of developing asbestos-related diseases and certain types of cancer, although the likelihood of severe health issues increases with repeated or prolonged exposure.

The severity of a single exposure depends on factors like the duration, intensity, and concentration of the asbestos fibers. While a small amount is less likely to cause significant damage, a high concentration can lead to serious long-term lung damage. Individual reactions vary, and asbestos-related illnesses may not appear for 10 to 40 years after inhalation.

Given these risks, always take precautions around any material suspected to contain asbestos. Personal protective equipment (PPE) may not be completely effective. If you suspect asbestos is in your home, hire a professional for testing and removal. If you are worried about a potential exposure, consult your doctor.