In no realm does the US consider Japan, Germany, or Singapore a rival. China is the only “rival” in there. The other countries don’t have the actual quantity of people or land size to be an economic rival. At best they could have a higher standard of living based on PPP or GDP per capita, but not anything that would overtake the US. You’re trying to turn a simple evaluation tool that every government should be using on its trading partners into some maniacal weapon of economic doom. There are lots of partners in this world. Just like everyone else if you act like everyone is an enemy then all you ever see is targets.
There are a ton of people in China that “own” a home or property, but it isn’t even built or usable. There are scores of ghost cities across China that were built as part of an economic bubble.
There’s a ton of room for improvement in North America, and I’m not going to discount the fact that we need more smaller homes, and condos to be able to allow people to own a piece of property. However China’s metric is completely out of whack.