Asset deflation will take a long time.. there are a lot of factors to prop up the price or to start a very slow decline.. If the broader economy recovers faster then the u turn will be equally fast.. However i doubt we will see drop in the price below what the hdb is asking for.. Note that max income for hdb is 8k.. with this floor, a lot of the middle class or even young PMETs will be pushed into the condo class..