M.G.
You CAN do something about this. There are several ways to go about this. First, if you have HOA, you and your neighbors can ban together and talk to them. More than likely they would get a warning and then a fine. You also can call the police if it continues at night. If you and your neighbors take turns calling the police (and I would start at 6 or 7). The police will get tired of the calls if they're not willing to do anything at first, and they'll check it out. Again, they'll just give a warning at first, but the next time will be a fine. They may not care that the parent isn't there because the boy is legally an adult, but it can't hurt to mention it.
We had a noise problem that wasn't near this bad, and it was taken care of. It was a neighbor who was never home, and their dog stayed outside 24/7 barking literally non stop all day and night. We all took turns calling, and police came every time. Finally they fined them.