I'd guess that is the point of the comment. In the US we can blame zoning, NIMBYs, and car-centric society for housing problems. But what about those other countries? What's the reason there?
I suspect important drivers of home pricing are:
- Young people not getting married and starting a family right out of school, making average household size drop considerably
- Increased standards for construction and rental quality
- Everyone wants more space, houses are pushing twice the size they were 30+ years ago
I think these are more plausible than just zoning and cars. I'd guess those are only serious problems in a handful of very dense cities which are constrained geographically.
The household size issue will probably level out, you can't really go below 1. Lowering standards won't happen. But smaller homes might. Bring back starter homes.