We're well above sea level here and the water table is typically 100' below or more.
The soils here are more heavy with clay. That component shrinks when it dries out and expand when its holds moisture. You can build an underground structure, but it must be capable of withstanding the pressure of seasonal soil changes.
Because that is more expensive that above-ground space, we normally build out-buildings, garages, sheds and so on to store things in. Besides, we have the land.