Musing - Lowering yield on income stocks?

Recently I came across these terms reading this article by STE's Stocks Investing Journey.

As someone who is most comfortable with income investing, it struck a chord with me. And when someone thinks of income investing, S-REITs naturally comes to mind.

At the present I feel the reputable S-REITs in general are too richly valued for my liking. Even if I were to have the extra resources to put into the market, I simply cannot see myself wanting to add positions at this price barring exceptional circumstances.

(And this is also why Lendlease Global REIT IPO-ed at such a timely period - I hope I manage to jip a tiny bit. Looking forward to the IPO ballot.)

It has never occurred to me what I will do if these stocks being more richly valued and hence compressed yield of 2-3% becomes the new norm in Singapore market, nor do I have much ideas how to properly tackle such a scenario moving forward.

(AFAIK 2-3% with continual growth in dividend payout is common for investment in US Market - correct me if I'm wrong).

If the conventional way of determining asset value based on fundamentals becomes obsolete, then how does one decide a good entry point instead of resigning to Dollar Cost Averaging or looking for alternatives?

It also begs the question in my mind:

Have we been spoilt silly by the yield from selected stocks in Singapore market?

I came to the conclusion that while it's fine to be most comfortable with a specific investment strategy, one must be prepared to be adept at other strategies as well. I still got ways to becoming a good investor.

We must adapt and overcome.