Yeah, everyone loves to blame zoning, though in practice, developers are only really enthusiastic about building as long as prices are high and rising. When that stops, they walk away. Plus, there's never enough to meet demand: as long as people are moving into the area because there's money to be made there, and money keeps flowing in, there will always be more demand than supply.

And, I would wager that there's a correlation between those who say there should be no limits on building, and those who are unwilling to pay for public infrastructure (schools, roads, transit systems, water and electric supply, etc.) needed to support the increased population.