Amazes me when people try and offer advice that doesn't fit in with what people want to hear its pessimistic and the wolves are out howling in the woods.
Some are just trying to say how it is. Look at the number of airlines going bust. LTE went this morning adding another name to a rapidly growing list. Most other European airlines are shelving growth plans. Very little recruitment coupled with a lot of experienced guys coming back onto the market equals bit of a wait for a shiny new 200 hr grad!! Better to hear a bit of pessimistic advice than...."yeah all is well mate, go for it. You will do your training and pop straight out into a jet job. Don't worry that huge secured loan on your parent’s house will be fine!"
If your parents can afford to have all that equity tied up, you are confident that while waiting to get a flying job you can afford the repayments (if still living at home you probably could) then go for it. Just think it through and listen to the gloomy advice because anything else will be a bonus. Things will pick up but there will be a big queue already waiting!
Don't shout down the people posting gloomy predictions, I’m sure they are just trying to help. There does seem to be a lot or rose tinted vision going on round here!
If you can afford the worst case scenario go for it. As someone said though be brutally honest with your parents, they deserve it. Good luck.