That's not a generalization. That's a totally separate argument. Making someone whole for the loss of a phone does not require you to provide them housing (which is significantly more valuable than the phone was.) It probably means returning the phone -- and if you gained some money from the use of that phone, perhaps some portion of that as well.
Taking that example back to colonialism, it means probably returning stolen wealth and some portion of capital earned on the back of that stolen wealth.