Want2be, I am both American and British, as are my children. Many townships and councils in the US rent cap and tax those who rent out as individuals and if you own the property you still had to do state income tax, property tax, your fed taxes were a pain. If you don't have a company covering it because you're definitely coming back in a couple of years, it's usually a big PITA. It is designed to discourage BTL.
You think the US had a problem with sub-prime? Man, you are on the Titanic before it hit the iceberg, thinking she'd never sink! There were mortgage products here that never existed in the US, they were illegal. I had to learn about them as a legal secretary.
Here, you're mostly treated like scum for renting, and males who did not hold property, of which only 10% did, were not granted universal sufferage until 1918.
Things can get very very bad, people, and you are really kidding yourselves if you don't think poverty doesn't exist here, if you've forgotten how it was here even in the 60s, and in a race to the bottom.
I've seen developing nations, lived in them, believe me, it's not a level you want to sink to again.