Looking at what happen to China house market now. I don't think it will happen anytime soon for Malaysia. (at least 5 more years to go).
Able to extend house loan to 30 years.
If couples berjimat cermat and with 2 kids. Should be able to sustain a 300k-500k apartment/house.
But I am more worried about the house quality rather the crash of house market.

Property industry will see on the demand and supply. If less demand, they will decrease supply and venture to other industries.
Moreover, material price will be increasing along the road.

So, property price won't drop.