And there in lies the next issue. It is estimated that at least a third of council houses sold under the 'right to buy' scheme introduced in 1980 are now in the hands of landlords. Property is seen as an investment, resulting in the massive increases in house prices. This leaves those unable to buy scrabbling around trying to find places to rent, often at much higher cost than an equivalent mortgage, giving no opportunity to save for a required deposit.
If it was up to me, I'd prevent anyone owning more than two homes, and force the sale of all their others. That would flood the housing market, massively devalue house prices and get us back in a situation where folks could buy a house at 2.5x salary (average UK salary is £36K), or have affordable rents.
