No. That has remained the prevailing wisdom as part of this widely accepted narrative that the government had little to no role to play in the economy and housing was understood to be something that should be provided by the market, so governments retreated.
The current dire situation we're in has really been decades in the making. This did not happen overnight. This is because of that narrative having led to all sorts of policies that meant we were not building housing at the scale that was needed. The population grew at a pretty predictable rate, which meant housing needs were quite predictable, but we weren't building the housing that we needed. Now we are where we are.