Earlier quoted context omitted.
Average housing is mediated by where people want to live and preferences around the value of space. I could move elsewhere in the UK and have 5x the space for the same price, or I could buy a castle in France. But while that castle might be tempting for retirement, I value living close to the centre of London more than I value the extra space.
Yes, supply and demand. And there's considerably more 'supply' of land in the US. Homes are considerably less expensive in comparable relative terms. So is energy. So is food. So those are some very primary inputs into the cost of living, which means we live 'expansively' in North America. In Europe people are super concerned about 'cutting back' that mentality hasn't quite hit in North America. I suggest Americans w…
There is plenty of affordable land in Europe, but instead we're seeing even people who do not need to move to more expensive cities for work still do so because we willingly choose smaller houses.
That is not to say that there aren't plenty of people who would like more space, but I've personally worked with people who "wanted" more space, but only if they didn't have to move even one fare zone on public transport further out, because they liked to be dead centre of a major metropolis.
My example of a French castle was not random - I'm considering retiring to France eventually, and for the cost of my house in London, I can literally buy a castle 10x the size of my house, on huge grounds.
Yet today I would not swap my house for a castle even though I work 100% remote and could do so if it suited my lifestyle, because my location currently matters more to me than more space.