For me, when the market is good, just put your money else where - dividend paying stocks, EPF if you have above a million, ASM etc. When the market falls, then almost everyone will be thankful you are buying their properties at a discount.

To reiterate, I am never against buying properties. I am merely saying like all investment instruments, there will be ups and downs. Those who think it will always be up are either oblivious of market cycles or arrogant. They can be trapped when they buy a property at the all time high just before a crash/recession.

For example if you buy the Mirage by the Lake at 1m and now subsale 450 - 500k, yes they are right that in the long run it will go back to 1m and in some ways 'properties will only go up'. But why wanna be caught buying at the all time high and only break even 20 years later? 1 million can be worth a lot in 20 years if invested properly, but those who bought at ATH will be the bag holder until 20 years later, already lose to inflation.

My principle is never buy anything at all time high, you have more to lose than more to gain. Nothing to do with whether you have balls or not. So many people like to buy high sell low, maybe they use their balls to do their thinking.