Yes and no.

Yes, those horrible conditions aggravate this kind of thing, but the shooter's manifesto (with entire sections copied and pasted verbatim from the Christchurch shooter's manifesto) makes their own motivations clear. This was an intentional, premeditated, (poorly) targeted attack. They weren't doing this because they didn't make ends meet, they were doing this to attack other racial groups who they thought to be 'committing genocide' against 'white' people by reproducing faster.

In this case, some more primary issues are a lack of critical thinking skill, misinformation campaigns and online echo chambers (which they named when describing their radicalization process). Other factors obviously matter and more importantly can lead to these primary issues I mentioned (such as the education system and social factors preventing or encouraging this).

A relevant video to this incident: “The PewDiePipeline: how edgy humor leads to violence.” peertube / youtube and its sequel