I would recommend security lights and/or cameras. You can also buy fake cameras that are basically just a little light in a case, but they are more of a deterrent than a way to catch anyone. I'm guessing if the same things keep on happening in your area, it's one of the kids on your block. Deterrents like security lights might be enough to convince them that your neighborhood isn't worth messing with, and I would guess they're too scared to venture much outside their safety zone.

If cars are being broken into, or private property is being damaged, I would definitely call the cops. Not only do you often need reports for your insurance, but the kids--and their parents--should see that the behavior is being reported and taken seriously. Maybe neighbors could also distribute lists of lost property when something gets stolen. Even a dense, neglectful parent should be able to connect the dots when little Johnny has a new iPod "a friend gave him" and someone comes to the door reporting that there have been car prowlers in the area they should be aware of, and oh by the way, an iPod was stolen.

If you really want to get sneaky, you could try baiting them a little bit. Set your Halloween pumpkins out, move your cars out of the driveway, and turn the lights off. Then sit across the street with your neighbors, a big bright spot light, and a camera. It might be a waste of time, but you might also get a nice picture of the kid up the street.