http://www.travelmarbles.com/sydney-the-worlds-most-beautiful-city/
In Sydney, 1 million house looks like this:
https://www.realestate.com.au/property-house-nsw-epping-132166322
In Oxford, MS, the house like this costs less than $400k:
https://www.realtor.com/realestateandhomes-detail/238-Olde-Castle-Loop_Oxford_MS_38655_M79028-24508?view=qv
Unless you are a city person, a rational individual would not choose Sydney or Melbourne over US-R1.