"Australia's average is 7 times Annual Earnings and is extremely unaffordable. Interesting is that a lot of the USA is 3 times AE."
That is your key misconception right there ! In Australia 70% of the population live in 5 cities with over a million people.
The proportion of the US population living in the 5 largest cities is more like 15% of the total population.
There are vast numbers of americans living in cities with 100k-500k people, a category of city which is almost non-existent in australia. Cities like that don't have major land shortages, congestion issues, or commuting length which causes land value disparities.
I don't think you will find too many cities over a million in the US where you can buy a decent house for three times average weekly earnings.
Its true that houses in Australia are too expensive. 7 times average earnings is too much. But to suggest that it could return to 3x is totally unrealistic, and demonstrates either shallow thinking or a complete lack of understanding of the differences between the USA and Australia.
