I do not agree with this.

1. during 98 crisis, property did not have bubble. Share market was pretty high at that time and plunged 80% to 260 pts.
2. at that time, property price are considered peanut or chicken feed compared to now, even a drop of 20% was not painful.
3. most of the people are buying for own stay, almost no speculators at that time, so fire sell did not happened. Some people sell property ware to cover their margin account.
4. The higher it goes, the harder it falls.
5. Do not compare with the past becos history does not repeat by itself.
6. BLR was 12%, BNM has plenty of room to force BLR at all time low to bail those in the deep shit out.
7. 98 crisis was single dimensional currency crisis, who know what will hit us next? could be something like Japan, 3 in 1.
8. during 98, most of the western countries were enjoying good GDP growth, export helps our country to recover fast with a fixed RM of 3.80. Now every one has their own problem including China which could means doom if global economy take a double dip. A quick double dip is still better than a long and painful double dip like Japan.

I forsee if there were a property crisis in the future, it is going to be a catastrophic one. Be prepared.