Many of the housing issues that New York faces seem similar to what's happening in London: shortage of housing supply, soaring rents, property at ridiculously over-inflated prices. The London market is overun with buy-to-let investors chasing after the same properties as first-time buyers (guess who's more likely to be snapping up those properties and chasing up prices).

The article touches on the importance of neighbours. I think we underestimate how important community is in a neighbourhood. People will always come and go in a neighbourhood, but knowing your neighbours (even if it's simply saying 'hello') and knowing that there is a reasonable number of people settled in your neighbourhood makes a big difference to the street or block in which you live.

Research in the UK has shown [1] that many people who rent feel no commitment to the area in which they rent or don't see the point of getting to know the people they share a street with. Longer, more stable tenancies might change this (much like they have in Germany). Or the ability to purchase their own home (if homes were affordable in London).

Property as investment has had an incredibly damaging effect on the London housing market. Do property investors have any interest or concern for the neighbourhood in which they rent out their property?? If buy-to-let comes to dominate a neighbourhood, what kind of effect does it have on that neighbourhood? Can you ever build a community around such a neighbourhood?

[1] http://www.theguardian.com/commentisfree/2012/dec/09/home-ow...