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The housing crisis is prevalent everywhere in Europe, though. But it's not like droves of people have to sleep rough. Yes, rents keep going up, but they are still only a fraction of what you would pay in the US.
And you can actually still buy houses. Really cheap, even. Far off the highways, but some people opt in to exactly that.
The Netherlands has a worse housing crisis then the rest of Europe. Houses are not cheaper then in the US. Far from it. Also, the US is really big, so you can't say that actually. San Francisco and Detroit have completely different housing markets for example. Next to that, here in NL we don't build huizes from wood, which makes them more expensive as well. And our government extremity limited construction due to EU emission regulations because they are too scared to limit the biggest polutors, the farmers, with their massive export production. Because farmers protest with tractors and tractors are scary. So we prefer farming exports over housing apparently. Because we don't buy fruits and vegetables produced in The Netherlands, they are too expensive. We buy cheap tasteless junk from Spain and Egypt. So most agricultural production is for export. The profits of our farmers are more important to us then being able to pay our own bills and aging a roof over our heads.