I had heard about Aussie houses being very expensive, and we...

I had heard about Aussie houses being very expensive, and we have bought a 2 bed-room apartment in China for AUD $90,000 (my wife is Chinese)

But I was surprised by this comparison:

Median housing price US US $ 168,000
Median housing price US AUD $ 460,000

Are we in a housing bubble or does this reflect weakness in the US economy?

IMHO, having a holiday home in China is more interesting than having one in the country or by the beach in Australia