If the bobble going to burst it will take some time to effect the whole picture..
It won't just burst like that...
When ppl know they cannot sustain, they will move to less famous area, downgrade.

So there is no effect weather there is a bobble or not. It just a reason, for not buying a property. Look at central HK, JP. KL. You already know what's is happening. Wait longer later lagi pening.