Provided of course that Americans can earn the kind of income it takes to pay the monthly mortgage payment for the median new home being constructed in the U.S. these days. Like the housing bubble in London, it takes much much more than the average income earned by individual Americans to be able to really afford the typical new home being built in America today.
ReferencesSentier Research. Household Income Trends: May 2014. [PDF Document]. Accessed 2 July 2014. [Note: We have converted all the older inflation-adjusted values presented in this source to be in terms of their original, nominal values (a.k.a. "current U.S. dollars") for use in our charts, which means that we have a true apples-to-apples basis for pairing this data with the median new home sale price data reported by the U.S. Census Bureau.]
U.S. Census Bureau. Median and Average Sales Prices of New Homes Sold in the United States. [Excel Spreadsheet]. Accessed 2 July 2014.