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Having visited both countries, the reason why US houses are cheaper are because they aren't built that well compared to old houses.Most houses in the cold parts of Europe would have double glazed windows more insulation and most likely built out of brick or double brick wall and not crappy brick vainer, which is half a brick wide for some houses (pathetic that they cant even use a full size brick to try and save costs).

In Australia, modern houses are built more like American houses, however they come with the UK price tag LOL.