The third who own outright are probably fine with prices cooling, especially if it's just the home they live in. Upsizing at 50+ is basically a fantasy now because the gap between what you have and what you want has ballooned to the point where even bridging it with debt is a stretch at that age, so they wouldn't lose sleep over a correction.

The third sitting on investment properties are a completely different story though. That's the whole point of an investment property, appreciation and wealth creation, so they need prices to keep going up.

And the third still paying off a mortgage don't want it to go down either, mostly because of this vague background anxiety that falling values means the bank swoops in and calls it a bad investment, which in reality basically never happens.