Originally Posted by
med80009
I suppose you are asking this because of the 30% downpayment required for a second property mortgage ? hence, using you parents name to circumvent this.
If you use your parents name, it would depend whether you parents quality for a 80% loan. If your parents are loaded, can use their properties, stocks, FD etc to secure the loan. But if they are older, nearing retirement age, limited leverage for securing loan then this may not be an option. (go talk to your banker)
As for waiting it out, i think this would be a personal decision. You can argue that prices might chiong through the roof in a couple of years (but seriously, if it does, the economy is in trouble). But one can also argue the other way around that price may have corrected by then, you may have struck a big promotion or 4D and money would no longer be an issue...
Buy within your means if it's for own stay. If you are buying for investment then you would have to do your own risk management assessment.
My two cents.