But the economic system in place is not producing those effects in all countries that subscribe to such a system, so saying so is a poor conclusion. Many capitalist countries do not have housing shortages, so it seems very glib to blame capitalism when there are more accurate and more granular phenomena to point to.

I mean out of these, which seems more accurate?

1) In some capitalist countries, there is a housing shortage.

2) In countries with restrictive zoning regulations, there is a housing shortage.