London comes from capital going to it due to very low property tax rates and basically no income tax for wealthy foreign people via 'non-domiciled' resident tax

London comes from capital going to it due to very low property tax rates and basically no income tax for wealthy foreign people via 'non-domiciled' resident tax law. Housing becomes a store of wealth / commodity investment vs. a thing you use like a car. As a result a property investment bubble feeds on itself and creates the london problem. To reverse that you make it unattractive as a store of wealth and attractive as an active investment via renting it out. And you remove supply creation limits. You would decrease the unfair demand side by taxing them like a typical UK resident. Also zoning policy usually doesn't help at all with typical height limits.