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Survey: Home-price declines not a big worry for wealthy

Americans more concerned with investment returns, stock market

About 46 percent of wealthy Americans are more pessimistic about the real estate outlook in 2007, while only 15 percent said declining home prices are a concern, according to a survey by PNC Wealth Management, a part of The PNC Financial Services Group. The survey was conducted online by Harris Interactive in October and November among 1,107 adults with annual incomes of $150,000 or more, at least $500,000 of investable assets (if employed) or at least $1 million of investable assets (if retired). The total sample included four groups: 500 with assets of $500,000 to $999,999; 434 with assets of $1 million to $4.9 million; 89 with assets of $5 million to $9.9 million; and, 100 with assets of $10 million or more. "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 pri...

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