Not according to this PNC Wealth Management Survey. While almost half of the survey group are pessimistic about real estate prices in 2007, only 15% expressed concern over potential declining home prices.

"While PNC’s survey results showed the wealthy worry about real estate on a macro basis, it also revealed minimal concerns with their own property values," according to a company announcement this week.When asked if a decline in real estate investments other than their primary residence would be a threat to their family’s wealth, about 77 percent of respondents said it would pose a "small threat" or "no threat." About 21 percent of survey participants said they accumulated the majority of their financial assets through residential real estate.

To us, this looks like a modest vote of confidence in upper end resort markets as possible sellers are not likely to feel pressure to drop prices to get someting sold.

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