I never had a problem with my waist. I guess it is possible. I found this on the net about it:
"Squats are an absolute must for leg mass. However the advanced athlete who has squatted for years may have overdeveloped his gluteus medius in turn making his hips appear wide. I only and let me stress only recommend this for the elite athlete who has already developed a great base of leg mass. This athlete may back away from squats for 2-3 months in order to lose some of the muscle that has overdeveloped on his glutes.
For most bodybuilders I would recommend using the pre-fatigue method if your hips are a bit out of proportion. If your glutes are taking too much of the load while squatting then they will continue to overdevelop. However, if you apply pre-fatigue you will force your quads and hamstrings to work much harder and fail before your glutes do. Thereby you will get the benefits of squats and lose some of the muscle that is on your glutes. I must stress again, that this is usually an advanced problem. Squats are a must for up and coming bodybuilders, but if your hips are too wide try pre-fatiguing your quads and hams before hitting the rack."
link to article:
http://www.abcbodybuilding.com/magaz...ybuilding2.htm