As an American married to a European, I've often been asked by puzzled Europeans as to why Americans build houses from wood. Alexis de Tocqueville probably said it best (Democracy in America Vol II, Chapter VIII):
"I accost an American sailor, and I inquire why the ships of his country are built so as to last but for a short time; he answers without hesitation that the art of navigation is every day making such rapid progress, that the finest vessel would become almost useless if it lasted beyond a certain number of years. In these words, which fell accidentally and on a particular subject from a man of rude attainments, I recognize the general and systematic idea upon which a great people directs all its concerns."
Americans regularly get second mortgages and put additions and improvements to their homes, expanding and adapting them. The less this is true (inner cities) the less likely the home is made of wood. And that may turn out to be true of many high-line wires. I'm not sure about power lines, but would assume we'd pay for telephone cables to be buried at the same time, and that seems incredibly wasteful. If the USA paid to put all the telephone cables underground, how will it pay off if everyone goes wireless, as has happened in most rapidly emerging market cities? When I had my home rewired in 1998, I thought it would be wise to pay for double phone lines, put in for DSL cable. I wish I could get that money back and put it into a savings bond.