I see these salaries in places like Spain, Italy, and even Germany outside of Frankfurt / Berlin, and I'm flabbergasted. I've lived in the EU and travelled quite a bit, too. If anything, the prices for food, electronics, sundries, etc. are MORE expensive than the US because of VAT.
Housing, I'm sure, varies just like in the US, but I wouldn't imagine it's all that different. A small 2BR "condo" (i.e. not a single house with yard) in a mid-tier city in the US can now easily be $300K and probably similar in Italy, Spain, or Germany, at least in urban areas where all the jobs are located.
How do you guys live?