The Boston metro region and the United Kingdom are similar when it comes to housing in one respect: supply is constrained by regulations and not able to keep up with household formation. As a consequence, housing prices are quite high and options limited. The housing bubble affected both places, but it's worth noting that in Boston, prices moved sideways after a three year decline from the 2005 peak. We're experiencing a demand driven price run-up right now, but nothing along the lines of the speculative madness of the previous decade. Britain, by contrast seems to be gripped by bubblemania again, with prices surging in and around London. It would be interesting to compare London to New York City.
Interesting. More similar to Boston than to the U.K. I wonder if ex-pats like to park money as real estate in London more than anywhere else.