Timeframes are like crayfish, Zip. You never know when a dopey politician will do something stupid to burst your bubble. Nevertheless, over-inflated bubbles are more likely to either burst with a pop or deflate in a flash, and both dynamics are relatively sudden - with few seeing the arrow coming, given the unnatural exuberance. Generally speaking, people don't buy RE as much as they buy payments. While inflation, and therefore interest rates, remain low, then the RE market will stay buoyant, but nothing lasts forever - even rocks turn to dust. Difficult to put a % on a drop, but a hard fall "might" result in a 20%to 30% fall, given there is a lot of highly leveraged participants that have been lured by the Siren of cheap debt and government stimulus; the market a cruel master.
