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Not sure why or from where this quote comes from. In germany and poland we have many such apartment houses that are very affordable
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It comes from America, where capitalist simps preach the virtues of idiots who buy companies and act like it makes them paragons of humanity.
Where living in such apartments would be hell because they'd expect them to be built out of sticks and cardboard, as it is common in the USA. Someone sneezes in the south end on the 2nd floor, the guy on the 12th floor north end goes bless you.
Buildings in Europe are built from proper building materials, concrete, steel, glass, and bricks. Not cardboard and sticks and paper. Hence living in them is actually much nicer than one used to US buildings would expect.