Depends
Firstly, "europeans" is a wide term -- Romanians and Bulgarians are definitely poorer than Americans by nearly all standards. Poles as well, mostly. Also, I'd say the English (after living there for a few years) except for history (they have no culture now, despite them berating Americans for not having any....)
But Luxembourg and the Swiss have a high standard of living
Also, the size of the homes, while important, is not the sole criterion for comparison
How about stick shifts and clown cars as a measurement?