Land and housing is cheap in the U.S, relatively speaking. in Norway, wealth taxes start after about 40 sqft of out-of-town apartment.

If that was true, I'd be very wealthy: 40 square feet is 6.3 by 6.3 feet. Or 3.7 square meters. That would make for a price of 57 000 $ per square meter! In reality, the national average price in Norway is $ 5000 per square meter and 10 000 in the most expensive area (Frogner, Oslo January 2016)

So $ 180 000 buys you a studio apartment of 18 square meters in the most fancy area, or 36 sqm on the average. That is roughly 200 and 400 square feet.

The median net household worth in Norway is $ 300 000.