I am a 23 year old living in Romania, currently renting an apartament. I am earning enough that I am now looking to buy an apartment of my own in the near future with a mortgage loan, but, right now, I think there is a housing bubble about to burst, at least in the area I live in.
This site shows the price graphs for apartments in my living area. It seems that the prices are reaching the values they were at before the 2008 recession. Is it reasonable to expect them to drop similarly to how they did 12 years ago? If the prices do drop within the next 3 years, is it reasonable to expect that I would be able to get the same kind of loan I am eligible for getting now from a bank?
From a purely financial perspective, does it make more sense to buy an apartment now, despite the inflated prices, or wait for the bubble to burst and buy at that point?