Jesus, 250k for a house, that's cool.
In Sydney you cant buy one below 500k, and this one is total rubbish.
Decent houses/location are well above 700k.
The government never allowed home prices to crash in Australia, because they never allowed developers to over develop. Hence the prices now are just insane for piles of shit in the suburbs.
You're still going to pay outlandish prices for anything of decent size in a major US city, but the prices 5-10 minutes out have (mostly) dropped like rocks.