Yes, and? Just about every developed nation is having a housing problem.
The problem is that employers want their employees physically present at the office, and roads can only carry them so fast, so being closer to job opportunities will reflect on the housing cost. Maybe the solution would be to make workplaces more widespread, improve transportation to expand commute reach under 30-60 minutes, or support more remote work.
The point remains that claiming that everything is down to "not building enough" misses half the equation.
In any case, what is the rationale for building more only to be able to accommodate more immigrants? (Because that's the situation)
In Europe massive immigration is destroying local cultures for the sake of short term economic gains...