Housing Association property question?

Housing Association property question?
Hi
I have a two bedroom council (housing association) property in Oxfordshire. The rent is £400 a month plus all usual bills. I am 29, and earn around £23,500 a year.

I don't have a deposit for a house, and cannot acquire the house I am currently living in. I don't know why, but I feel like I'm wasting £400 a month on rent when I could be buying. I know lots of peoples rent is much higher, more like £700 a month, and so many people have told me that I should be lucky for what I have - yet I yearn to own a property.
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