Barring a recession (I'm assuming we are talking about the US), it won't burst at all, it'll just stagnate for a decade or so. If there's a recession, watch out below - affordability is pretty maxed out at this point.
Inventory is way up in all the hot markets and sales are way down but most still have <6 months of supply so there's not yet much downward pressure on prices.
I wouldn't be surprised by a 25%-ish correction in most markets. I also wouldn't be surprised by many years of negligible or slightly negative (in real terms) appreciation. I would be very surprised by further price increases outside of specific local (ie Crystal City+Amazon) circumstances.
Usual caveats about my crystal ball apply, of course.
-W