Its possible.

Some old shingles and BrickTex finishes contained asbestos.

I have the exact same asphalt siding. I don't know about you, but mine is covered in damp holes, the brick facade is flaking off, and the tar flashing is allowing water in the walls. I am looking to replace it, but am getting many different ideas on how to insulate underneath the siding any ideas? Should I have a moisture barrier? Keep in mind, I also have a damp, moldy basement!

You are describing a product that used to be called Insul-Bric or by a name of Ghetto Brick.

The chances of aesbestos content is very possible considering the time frame of the product.

Cyr Home and Commercial Property Inspections

Commercial Builder

oaconstruction.com

LEED Green Associates

I am looking to buy a 1945 house on 8 acres of land it describes the siding as bricktex/asphalt. Considering it was built in 1945 what are the chances it has aspestos

Can I paint over this type of siding and if so, what kind of paint do I use?

Our house was built in 1932 and has this siding
I have been repairing the weathered side where the siding falls off
with new composite roofing material (shingles) and using black caulk to repair the tar paper backing. Seems to work OK.
Not sure if the old Asphalt siding has asbestos. If before 1945? I must have been when they put it on in the 30's.
Do you know the fancy name they gave this style of siding. Our house is historically noted in our town of Sausalito , CA.

Thanks
Herb Newman
415-465-8425 cell feel free to call me