I spent the last few days back in England, looking at flats to rent (heading back in June). Still the same dynamic - renting is SIGNIFICANTLY cheaper than "owning". But what did change from when I left in December is the amount of listings, the falling prices, the government backstabbing, and general sense of panic.
Even the realtors (aka "estate agents") told me they're swarmed with listings, nothing is moving, and people can't get a loan. And I could sense that they knew. They knew the Ponzi Scheme was over, they knew they were about to lose their jobs, and they knew home prices were already cratering and had much, much, much further to fall.
"Got Popcorn" might do for the US. But in the UK and other parts of Europe, you're gonna need more than that. Got popcorn, nachos, the supersize Coke, some Jelly Bellys, some Goobers, and hell even grab the Milk Duds.
And get ready to enjoy the show.