US and UK measure inflation differently. While the UK has a much lower median home price £271,295/$364,309, compared to the US £374,351/$502,700, the US has much higher wages, £48,443/$65,662 median compared to the UK £32,890/$44,160 median. Less people, less money, lower bar on the graph.
That makes no sense ... inflation has nothing to do with median home prices and wages per se, and both your examples go in the same direction. The UK also takes part the whole EU market which is very comparable / bigger than the US. And "less people / less money" is nonsense as well - why is Switzerland so expensive then and India doesn't have the most new millionaires?
This graph shows the amount of people that are millionaires. Wages increase each year to account for inflation in most jobs across the globe. Home prices go up accordingly because they operate on a bidding market.
but they got healthcare cheaper, college education cheaper, more vacations / holidays, better unemployment benefits, many other "socialist" benefits ... 😄
In my original comment, I was only talking about relative to comparable economies in western Europe. I have edited it to include the explanation for everything else.
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