That also means engineering, management and labor for construction are much reduced in cost, provided you can find domestic engineers working at domestic salaries and management which isn't corrupt.
If labor is all that we have to worry then yes. But building materials prices are almost the same everywhere, so they still wouldn't be able to afford it
Definitely not, a 2x1m plywood board in Tokyo cost ~$50, while the same one back in my hometown of Spain is $10 (despite the average wages being the same in both countries).