[mayniac]

We had a decent council housing system in the UK which provided affordable rents. That and housing cooperatives/housing associations replacing landlords would be ideal.

I agree with the person you're replying to, the vast majority of landlords don't contribute anything to society and the idea that housing is an investment should be stopped.

[isostatic]

I was a landlord -- I bought a flat in 2007, the day later Northern Rock went bust, and 6 months later the identical flat below mine sold for 60% of the total -- I was in £60k negative equity. Fortunately I resisted the mortgage sales guy and went for a tracker, so paid very little in mortgage (The interest part was about £150pcm).

Fast forward 5 years, still £30k of negative equity, however SWMBO is pregnant so we need to move. Rented out our place, rented somewhere near Manchester, moved, then told my boss at the time I'd moved.

Over the next 4 years we rented out, and between various repairs, service charges, etc made an average £500 a year profit, patently not worth the stress - especially if the tenants had moved out. My half of the £500 a year was taxed in the final year at 60%.

So all that's left to make it 'worth' buying a house is the increase in house price, which in England has averaged about 3% pa over the last 13 years.

If you want to form a housing cooperative, nobody will stop you. If you want to live in the centre of London you're going to be spending a lot of money though - it's supply and demand. If you want to rent or buy somewhere cheap, move further away, plenty of choice to buy a house for under £100k, in some really nice places, not far from Manchester or Leeds. Don't blame the landlords though.