Development costs and affordable housing?

It seems general sentiments in Portland are that residential real estate developers are a part of the affordable housing problem.  That is, the large expensive houses and small expensive apartments being built around town are driving home prices and rents up, beyond what low and median income buyers and renters can pay.

Nationally though, there is talk that the costs and delays associated with getting a piece of land to a build-able state are an oft cited reason for the increasing costs of housing.  That is to say, if development costs and processes are easier and cheaper, housing would be cheaper.  A Business Insider article by Bob Bryan addresses this.

A recent study from the University of Pennsylvania placed each state on a spectrum called the Wharton Residential Land Use regulatory Index (whew, say that five times fast).   States with less restrictive housing market regulations had lower WRLURI values.  As one might imagine, states seen as more environmentally aware and concerned had higher WRLURI values than states seemingly more sympathetic to business interests.  Check out the map at the bottom of the above linked article.  Oregon is classified as having above average land development restrictions.  I'm guessing the City of Portland would be classified in the "most restrictive" category.

Do you think that follows locally, in Portland?  Do you equate policies that are pro-developer with lower housing costs?