We had a student that bought a Bellanca 14-13 (predecessor of the Viking), figuring he would save money on training costs. At his first annual, AD 76-20-07 was carried out
properly, and decay was found in the wing roots. The airplane was scrapped.
https://drs.faa.gov/browse/ADFRAWD/doctypeDetails?modalOpened=true
Before I owned it, my Jodel sat outside in a swampy area for several years. When I restored it I had to replace or repair several areas of decay. Lots of work. But the engine was fine, no corrosion inside. Another Jodel owner on Vancouver Island tried some mild aerobatics and had the spar fail, killing him. Decay was found in it, the result of a wet environment. A friend bought a homebuilt Minicab from near Vancouver and flew it home. Then he found water in it, along with decay.
If you have a wooden airplane, you'd better monitor it closely. Keeping it sheltered is the best way to extend its life. Wood is strong but it's also fungus food.