A system where people bid against each other, forcing house prices up and up is no way to allocate housing. It only conspires to keep us all loan slaves and profit the greedy bankers who lend money; and the government which refuses to regulate the housing market for its own economic motives. These are what produced the economic crisis we are all suffering for.
We need to create a system which makes the banks and the government irrelevant: by clubbing together to help each other get homes. Ordinary people can create wealth, and use it productively, not negatively as at present. If land and buildings are owned on behalf of the community, the speculators can't get their hands on them.
For a start, get your local Credit Union to start a "Homes For All" savings account, and begin putting your spare shillings into it. If you have pension funds to invest, don't buy an annuity - which only gets stolen when you die. Buy a house that several people can share, and get them to form themselves into a co-op which can pay you a modest 3% dividend on your investment (which will provide the pension you want). Then make a will leaving the house to the co-op when you die (when it would be otherwise sucked into a profit swamp in the City). That way your life savings will provide perpetually affordable homes to others - a great memorial to you.
Eiter way, pooling funds and income to provide a roof is the way. Send the usurers to hell, where they belong.
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