The Real Estate bubble burst has already begun.    The demand on higher end housing has decreased dramatically already, which is has nothing to do with domestic policy in general.  It is only a matter of time to the riffle spread to the lower end homes.   

But it won't have much impact on below $500k strata homes.  So I would not hesitate to buy a moderate starter home, if I were a first time home buyer.   We need this segment of housing keep going.