There are lots of factors at play, some are more significant that others in one area of a country than another. Take Brexit, 5th largest economy, if you look at UK car stats (SMMT website) businesses are in recession as far as car manufacturers are concerned. Another factor, the GBP has dropped, this makes investing in London attractive for overseas buyers who may have invested in the US market. Plus as London house prices have dropped this also becomes attractive to overseas buyers. In turn as London property is very expensive, this drags the average's up for the price of property in the rest of the country. These factors will be repeated in many countries around the world, but one thing the US has lots of which counts against the US housing market, is land. The UK is highly populated, England is densely populated, the demand for land in the UK is at a much higher premium than in other parts of the world like Europe or the US. In turn, the UK landowners benefit from this global demand ie stability to park money in UK assets due to the reputation of the UK on the global stage, ie no major revolutions in recent history, one of the oldest legal & financial systems in the world. All this stability to park money in the UK pumps up property prices, so with Trump getting into office, is he lowering your property prices considering his flip flopping around with what he says? I see Trumps election as a desperate attempt to consolidate the US position on the global stage as the rest of the world wants detach itself from the petrodollar. As the dollar declines much of your money has to now be spent on things to help you live instead of just going into property. Be prepared for inflation and hedge accordingly, property prices falling is good for the wider US economy, as high property prices where a great % of income is going on servicing the property is bad for the wider economy. Besides there are more Basel requirements coming in next year and many banks have not got themselves ready for that either.
One other thing, Brexit, 5th largest economy, if the EU doesnt allow the UK to stay in the single market, what sort of effect on the global economy will the UK market crashing out of the EU single market and going into major recession have on the global economy. Brexit in a way has the global economy by the balls and the EU led by Germany will be seen as the bad guys for not budging on their philosophy.