It's cheaper to live in China than the USA because Americans expect that they will have a salary + medical benefits that will allow them to afford a 3 bedroom house of their own in the suburbs built to rather more exacting construction standards than China, 2 cars which they drive 20k miles/year, a family vacation every year, medical prices that cover the cost of doctors purchase insurance to protect against litigious Americans' expensive lawsuits, and pay taxes that support large social programs and one of the world's largest standing Armies. Prices for American workers and goods reflect these expectations.
It's a lot easier to live cheaply when your expectations of housing are a concrete room (shared by a number of friends if you are single), no car, no overseas vacations via plane, medical care provided by the state, and a system where doctors are not at risk of multi-million dollar court cases if they get something wrong.
Why is housing more expensive? 1. More expensive land (more desirable place to live) 2. More expensive to build house. a) Higher labour costs (can't just import cheap chinese labour because of visas) b) Stricter building codes.
Just saying, not enough support to do what you want to do.