The land around most population centers in the US is used incredibly wastefully. If you compare the density of a modern Asian city to a US city the comparison is pretty woeful (probably contributes to the "going back in time" feeling when visiting the US also).
None of those dense Asian cities are affordable. Yes, Shanghai is dense, but for sale prices are as dear as in SF, maybe even dearer if we compare comparable housing rather than just averages.
Land is there it's just being used wrong.