Just be patient, recession will be coming, it all in the cycle, and while that happens, property prices will knock down by 20%. Observed that recession come every few years ( 1998, 2001,2003,2009) and hit the property market hard.

Singapore is an open economy, no way that Singapore will escape if either of US or Europe goes into recession.

The worst scenario is that US goes into stagflation, which is possible that inflation shoot up as the world lose confidence in USD after endless printing. The Fed will have no choice but to hike the interest rates. Coupled with low economic growth, this will be pretty bloody.