It's not that part of regulations that are causing housing affordability issues. More zoning regulations that say you have to have x parking spaces with x lot sizes under x height with x impact fees and x long bureaucratic processes.
The problem is you can't compete with cash buyers, or people who can qualify to borrow hundreds of thousands of dollars when you can't (along with the influx of foreign money from China and South America, and stagnant middle class wages for 40 or so years).
Remove government support for mortgages, remove tax deductions, and put in place higher taxes for non-owner occupied dwellings. This will (mostly) fix the affordable housing issue. Work will still have to be done on pushing wages up.