One cause of the UK's 'housing crisis' (or rather un-affordability), just like other countries I suppose, is simply that if I buy other properties, I get: capital appreciation on the asset, and return on investment (by renting it out).

Offer me a £500k passive investment that makes the same returns with the same guarantees, and I'll take that over a house.

Except they don't. No other investment comes close for the British middle classes with that sort of extra cash. And the UK government will tax you to the hilt on everything else.

Exacerbating the problem, is that you can get a bank loan for additional properties.