[cm2187]

The problem is rather the combination of:

1. 2-3 floors houses, so low population density

2. narrow, middle-age style streets which means commuting by car is close to impossible

3. public transports already used way over their capacity (it's a small miracle every morning that on over-crowded tube platforms which do not have doors that people do not get pushed / fall on the tracks while the trains are accelerating 10cm away from their face - a miracle only thanks to british commuters being overly calm and courteous).

4. Very restrictive planning permissions which makes it very difficult to build anywhere outside of a few spots, which become covered with sky scapers, and a gvt / local councils determined to keep the real estate bubble going at any cost, including sponsoring 100% LTV loans with tax payer money, instead of allowing new developments.