On public ownership, the Corbyn campaign is a lot closer to what you propose than you seem to have realised, actually being very similar to Creasy’s co-ops and your community ownership. From his close colleague John McDonnell’s piece in the Guardian last week :
“Public ownership does have an important role to play, but this will be through smart forms of 21st-century common ownership and control. For example, rail will be renationalised, but with a form of joint management involving workers and passenger representatives. Energy would be socialised from below by the massive expansion of renewable energy production and supply by local communities, local authorities and co-ops on the successful German model, removing the monopoly of the big six energy companies.” (http://www.theguardian.com/commentisfree/2015/aug/11/jeremy-corbyn-close-deficit-poor-labour-economy )
With the exception of NATO/defence etc it’s essentially a social democratic offer, with many of the positions different only in degree or interpretation to more centrist politicians’ policies (on rent controls, for example, a number of the London Mayoral candidates have taken similar stances, not to mention some major Western world cities, while your prediction of underinvestment and distorted markets pretty well sums up the current situation…).
People talk about how the centre ground has shifted over the past 30 years — but the hard left is drifting to the right at a fair pace too!