Yes, it is. The state caused the housing issues because of their Soviet-like zoning laws.
In the US and Canada, it's very similar, though a bit different: the State has decided that only ridiculously inefficient single-family housing is allowed to be built.
Both of them are situations where the State has forced limits on what kind of housing is allowed, but the type of housing is obviously diametrically different. A better system is one where the State sets very few limits on housing, only very practical ones (no 50-story towers next to the airport, for instance), and lets landowners do what they want with their land, within reason.
My family purchased a home in the province in 2007 for less than 100k. We had to repair the foundation and roof of our house multiple times, and the previous owner used seven layers of wallpaper instead of installing insulation. Cheap homes have their own problems, and two pensions was the only reason we could afford to fix it.
Plus there's Starlink if you want to live way out in the sticks.