K is unable to buy a BTO flat because his combined income with his wife is above $10,000. Currently staying with his dad, they are thinking of buying a resale flat with their first child on the way. They want to be close to his dad and have more space of their own. He wonders if he should wait for prices to bottom before buying a resale flat near his dad's.

My reply to his message:

I have to say that I don't know when the HDB resale prices would bottom. I don't think anyone does.  However, if I were to hazard a guess, I am going to say that prices will continue to fall. More BTO flats will be completed. More ECs and condos will be completed. Will happen in the next 2 to 3 years. It is just starting now. So, the question is really how urgently you need a place of your own......