In reading the various discussion forums aimed at Portugal and the Algarve, I've noticed trends developing that weren't apparent or that I missed in years past. People contemplating the move to Portugal now seem to be taking a more cautious approach and are spending time in rented accommodation prior to buying property.
In many cases, unswayed by the lure of a property market definitely biased toward the buyer, many potential new residents are trying the water before cutting their ties with their home countries. This must be a good thing, as the other side to this story is the increasing number of ex-pats who, unable to earn an income equivalent to that 'at home', are now trying to sell and return to their roots.
Portugal is a great place to live, but one still has to be able to afford to live here. A bit of research, and restraint, will pay dividends. And cheap property will probably be here for a year or two.