Economic Climate – What a pain in the butt

Being 24 and very eager to finally move out from my parents, ive been trying to get on the property ladder for some time. Like most first time buyers, the typical obstacles in my way have been:

a. Deposit

b. being able to budget

c. trying not to cause WW3 with my asian parents (for wanting to leave the nest)

So with all this going on, I was ecstatic to hear that the banks are pulling pretty much all mortgages that provide any flexibility, and are positioning themselves to earn through low risk lending and propositions.

Sadly, I dont have a 30% deposit to play with, and im therefore a bit screwed. I wasnt just planning on this as a move out of home, but I was looking into property development as a channel in order to make some quick cash to invest into a more solid business venture. Capital is the key.

So what do I do next seeing as the market maybe like this for a while? To be honest, I havent got a frikkin clue.

If anyone has any ideas, please let me know. Trust me, theres only so far you can go sharing a house with your folks….