A trio of reports on the survey released yesterday. "America's wealthiest have higher hopes for their stocks this year, but are worried about prospects for real estate, according to a survey. Faith in the real estate market, however, was weak: Only 48 percent said they expect real estate's value to increase in the next year, down from 72 percent who thought it would in last year's survey."

"Thirty-three percent of respondents expect real estate values to decline over the next year. That number is up from 14 percent who thought that last year."

"The survey, conducted by asset manager U.S. Trust, polled Americans with annual adjusted gross income of more than $300,000 or net worth greater than $5.9 million, including real estate."

From Florida. "Less than half of those surveyed nationwide think real estate values will increase over the next 12 months. 'I think they realize that the level of appreciation has slowed, but Florida will always remain an attractive place to live and buy properties,' said Mark Stevens, CEO of U.S. Trust's southeast division in West Palm Beach."

"Palm City economist William Fruth said those who purchased second or third homes as investments may not turn much of a profit in the immediate future. 'The local housing market will be hurting for the next 12 months,' said Fruth."

"'If you took this survey 10 years ago, things would be very different,' said Merle Dimbath, president of Dimbath Economics in Stuart. 'Their top worry shows that they are concerned for their kids' and grandkids' livelihoods and are thinking about whether or not they'll be able to have the same wealth they enjoyed.'"

"While only the wealthiest individuals were surveyed, Dimbath said the results reflect the financial concerns of everyone. 'We're all in this boat together and we all want to float,' he said."

From Newsday. "Wealthy investors' involvement in the real estate market does not reflect their dreary expectations for its performance. As in last year's survey, they reported that real estate investments comprise 15 percent of their portfolios."

"'We felt they have not yet adjusted their portfolios along with their beliefs,' said U.S. Trust regional president William J. Porter Jr. He said his firm advises 'trimming that portion of the portfolio' and investing in alternative assets."

"Louis Altfest, a financial planner in Manhattan, said 'the possibility of a decline in real estate is a residential phenomenon.' Investors may be holding real estate assets despite their expectations because these investments are fundamentally less liquid than stocks and other products, Altfest said. 'You can't turn on and turn off real estate in the same way,' he said."

"Steven Rogé agreed, saying that a client who purchased a Florida condominium against his firm's advice had been unable to sell it recently despite reducing the asking price several times."

"Rogé said investors' concern over real estate is driven by 'what they hear in the media and the covers of magazines. It went from a housing boom to a housing bust in probably a year and a half.'"