Credit Crunch

It is quite odd. In my small street there are six people I went primary school with, who all went away to university, and who have now all returned home and are living with their parents.

While I feel bad about my housing dilemma, when I see my childhood school friends in a similar situation I realise that this housing problem is really affecting everyone my age.

I would love to move out of my parent's house, and surprisingly they are quite keen to see the back of me as well. But we both know that in the current climate this cannot happen easily.

My sister was very lucky. She was in a position a few years back to buy a small flat in our village for about £80k. She lived there for 18 months and sold it making over £30k profit which she was able to reinvest in a small house also in the village.

Properties are often just too expensive

While her mortgage is huge, she is at least well on the ladder and past the first hurdle of the flat to house move.

I've not been so lucky. Due to the debts I brought back with me from university, I have never been in a position to properly save for a deposit.

This, coupled with property prices in the area, leaves me facing the prospect of turning into Timothy from the eighties sitcom Sorry.

We recently had a former mental health facility in the village turned into a posh housing estate. The main ward was converted into luxury flats.

I went along with my parents to have look and was very impressed, until I found out the price.

One bedroom flats started at £300k, rising to £500k for three bedroom flats, meaning that they were well out of my league.

I've since heard a rumour that nine Premiership football players have bought property in the development, further proving that they are over paid and my situation is not getting better!

They have more money than me and actually see our village as a cheap investment. Well, it may be for them but for me the situation just gets worse.

Villages in picturesque places in the country like the Cotswolds, have seen an influx of outsiders snapping up the property, leaving the locals struggling to live in their communities.

I never expected that to happen to me. But as far as I can see, London Colney has such fantastic transport links, that commuters are flocking in, but locals are being forced out.

This is being made worse by people buying to let. This may increase their property portfolios, but it leaves me and my friends caught in a trap, with little or no sign of improvement.

Could this be the answer?

I've even looked into alternative housing. While mobile homes were an affordable option, even they are starting to go up in price.

My dream move for a while was to a houseboat on the Grand Union Canal, but while I could just about afford the boat, the mooring fees were very expensive and I didn't really want to become a water gypsy, moving place every week.

Realistically, I've got to get out soon, but I'm left wondering what I can really do?

My options are limited but with a number of friends in a similar situation we could all club together and buy a property.

I already know two sets of friends who have done this and it appears to be working well for them.

But the property would have to be suitable for all concerned and that's even before you get into how we can raise the capital!

The pitfalls appear to be endless, but I realise this may be my only chance to get on the property ladder.