Still predicted by classical economics. Zoning laws change the elasticity of supply. Housing in a completely free market should have relatively high elasticity; if the price is too high, build more! Zoning laws artificially constrain the supply and so create a monopoly/oligopoly situation, which is what allows owners to charge economic rents beyond the marginal cost of producing more housing.

Similarly, the local sublet/taxi regulations that AirBnB/Uber bypass artificially constrain supply, allowing owners of properties or taxi medallions to charge economic rents. Bypass them and you get a competitive market, where owners of houses & cars can charge only the marginal cost of use (and instead, AirBnB and Uber get to charge monopoly rents).