I think this point is very important. After the automobiles took over, the street slowly ceased to be the #1 public space where people hangout, shop, play or shoot the bull. Fast forward to today's US, spending an extended time on the street is associated with being poor, homeless or conducting criminal activity. Streets' sole purpose is for travel and commute.
Countries with less developed economy still enjoys a vibrant street life much like the pre 1920 US (i.e. Mexico, Brazil, Turkey, China, Thailand etc). As they get richer and purchase more automobile though, the same street transformation is happening again. One can notice a big difference if one visited China in 2000 vs today. They are in some dire need for parking lots.
Of course, there are definitely developed wealthy countries in Europe that also enjoy vibrant street life. However car ownership there is not as widespread as in the US due to a number of economic constraints (space cost, gas price, taxes).