The difference is that the Australian economy is booming. A friend of mine owns a house free and clear that he built himself in Townseville (Bushland Beach) and it’s value has been skyrocketing.
Australians, in general, have a much higher median income than the US. They still make stuff and have a growing economy. The population of the entire country is less than CA (with a landmass almost the size of the continental US).
I spent two weeks on vacation there last year. It was an eye opening experience.
