There are any number of homes with plywood walls for a foundation underground. Your plywood should have had a water-proof membrane applied to the outside. Will not last more that 2 years if that long. Humidifier may help. After caulking use dry-lok water-proof foundation paint on the walls and find a way to pipe in fresh air or the stagnating air may make you very ill. There is also the very real possibility of cave-in. You may survive being trapped under a wood panel but if dirt covers your ass you will not even be able to kiss it good-by.
Do you not think your parents will notice a new name on their utility bill come time to pay them?