LOL......this BBBB and DDDD war still ongoing?? LMAO never ending since I last participated in early 2013.

What I can tell you is:

In 2010 I was BBBB mode, lots of ppl was too.
In 2011 I was still BBBB mode
In 2012 I was STILL BBBB mode but super selective.
In 2013 I am bear (you can check my posting history, I only posted year 2013 onwards regarding props) but got "laughed at" by some "geniuses" in this forum still believing BBBB.
Late 2013 even those same geniuses, while not in DDDD mode, agreed property price is staying stagnant or only tiny increment in 2014-2015. You don't believe me go read forum history.

So everyone now agrees party is over.

Only difference is if now we have a:
a) Big crash
b) Controlled dip
c) Long stagnation
d) Very very slow increase in prop prices

When your BEST scenario is a tiny, steady profit (almost negligible when you consider in assessment rate increase, low rental ROI and probability of BLR increasing) and your most likely scenario is dead money or big loss, and you are still in BBBB mode, all I can say is LOL, good job.

GLTA as usual, and DYODD. ;-)

We can only take advantage if its a slump and not a major crash. Major crashes especially with prolonged periods of recession will result in an economic collapse. When that happens, taking advantage of cheap properties will not be your primary objective. Survival will.

What if income rise is slower than inflation and people will have less disposable income?

Isn't this the best time to pick up property?

Cost push inflation will drive up price; without control, inflation rate will spiral up like Zimbabwe. To keep inflation rate within acceptable limit, bnm could increase interest rate and reduce money supply. If rise in inflation rate is certain than rise in interest rate is equally certain. Rise in interest rate will have negative impact on assets (e.g. property) demand.
In 2007, US gomen didn't do anything to curb property price increase. The housing bubble was burst by sub prime loan i.e buyers/owners couldn't service their loan. On the contrary, bnm should intervene early to prevent extended tenure loan given to marginal borrowers.

Historically, after inflationary economy is always a recession.

He is taking about monetary policy.

Monetary policy is the process by which the monetary authority of a country controls the supply of money, often targeting a rate of interest for the purpose of promoting economic growth and stability.[1][2] The official goals usually include relatively stable prices and low unemployment. Monetary economics provides insight into how to craft optimal monetary policy.

Monetary policy is referred to as either being expansionary or contractionary, where an expansionary policy increases the total supply of money in the economy more rapidly than usual, and contractionary policy expands the money supply more slowly than usual or even shrinks it. Expansionary policy is traditionally used to try to combat unemployment in a recession by lowering interest rates in the hope that easy credit will entice businesses into expanding. Contractionary policy is intended to slow inflation in order to avoid the resulting distortions and deterioration of asset values.

What's wrong ? U have different theory ? 

Judging by 20/30% up in profit for every quarter by developers,  ya ya cost base inflation. ..zzz