many materials tend to expand and contract in the presence of heat and cold, respectively. That expansion and contraction can sometimes do damage to/crack rigid materials not designed to handle temperature fluctuations. If there is water present, that makes things worse as water expands as it freezes while everything around it tries to shrink, resulting in ice creating and widening cracks.
that being said, usually house paint should be able to handle freeze thaw cycles, so it probably was either old or not suited for the climate.
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