Those that are in need for a residential property, buy now. Those looking for investment property can adopt the wait and see attitude. It's highly unlikely for prices to crash for the next 2-3 years. Prices may not climb but will at least hold. One reason is there is a constant influx of foreigners coming to our country to work. Rental is easy and good money. Sellers who cannot sell at high price can rent out a 2 year lease today and forget about selling for the next 2 years. And with the new rulings for HDB being able to rent out after just only 3-5 years, sellers can simply also rent out the HDB and stay with parents/friends/relative during down time and wait for the boom the sell.

You see it is a 2 sided affair. Both buyers and sellers can hold. This time round, i think sellers have the upper hand. And i agree that the past is different from today. Last time HDB can only rent out after 10-15 years, now it's faster. Rental is a big decisive factor. As long as it can cover the monthly loan mortagage, sellers can hold for 10 years they don't care.