Seriously sloping floor

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I recently pulled up the carpets in my newly purchased home (California ranch/ built in 1959) and realized that the floor in the living room slopes A LOT towards one outside corner. I had the house inspected before buying it and the foundation was found to be in excellent condition (almost better than expected), so I don't think there's any settlement there. There also doesn't seem to be any new cracks in the wallboard, so whatever caused it appear to be settled. Should I be concerned or is it just old age? Is it possible to jack up a corner of a floor 1-2" without damaging hardwood flooring, walls, windows, built-in cabinetry, etc.? What cost are we talking about to if not level the floor completely, at least make it less noticeable?