Ah yes, the assured shorthold tenancy, the default form of rental contract in the UK since the mid-1990s. That was an attempt to goose the housing market in a stagnant economy, together with buy-to-let mortgages. It was embarrassing to see the national newspapers promote the scheme enthusiatically.

Asset inflation is great when you hold assets, but the husing bubble is one of the ways the establishment pulled the ladder up from the Millennials and later.