Americans are experiencing much of the same despite being the richest country in... history. Immigration is a not insignificant part of it but real estate being the only thing most people can finance with leverage has serious footprint as well.
Americans "are experiencing much of the same" while staying in their country. That's why many opt for the rich expat life. I've lost count of the number of stories I've read about random Americans moving to Portugal because "it's so much cheaper here" and "life is so much better".
Same goes for Europeans moving to East Asia to live the high life and causing similar problems for the locals. The only difference is that, unlike in Europe, East Asian countries have some guardrails on property ownership to avoid being overrun by foreigners. E.g. you cannot own land, and most houses are on a lease.
