User profiles not loading properly

I'm having this problem where windows can't find the
documents/desktop/favorites/... folders of the user. It'll give the following
error when starting up:

"C:\Windows\system32\config\systemprofile\Desktop refers to a location that
is unavailable."

The user has admin rights.

I tried creating both another admin account (which immediately has the same
problem) and a regular account (which fails to log on at all, it immediately
starts logging off again).

Anyone know how I can fix this?

When I manually browse to those folder in the explorer (with
c:\users\username\) they work fine.

I've checked the eventviewer and there were warning with ID 1530 in there,
something about not being able to read the registry cause some other process
was using it.