Or it means, people get in way more debt than they can afford to buy a small low quality house, that costs more than a comparable apartment and doesn’t offer any of the benefits of a proper house.
We have those developments here in Germany and it’s awful. It looks like shit and I’m 80% sure that a significant part of the current owners could only afford their houses due to the low interest rates of the last decade. If they have to inevitably refinance, someone loses their job or a large unexpected expense happens, they’re absolutely fucked.