American homes…cheap AF.

One reason for this, believe it or not, is slavery. One very under-appreciated aspect of cotton plantations is that cotton (in the days before artificial fertilizers) very quickly exhausted the soil of the American South, leaving behind land that was mostly only suitable for growing pine trees. This left pine wood as a cheap and plentiful resource for building houses. Southern US pine is now so plentiful that it's even the source of most of the chopsticks in China.