Can someone explain the thoughts of current sellers?

[1dilemma]

OK I will try and explain myself, falling house prices, possibly a recession, banks just don't want to lend money, lots of info available pointing out the bubble in the market and how houses 'need' to fall by 30-50% to make them in any way affordable (and predictions of this over the next 3 years at least). Loads of properties here on the market for over 6 months with the odd 10K chipped off the price every few months not a buyer in sight. I could go on but you get the picture.

Lots of threads on here about people wanting to sell but want last Summers price in todays market so decide to stay or rent out their house.

I do not wish to imply criticism of anyone I realise we all make the choices that are right for us and I know nothing about peoples individual circs but I'm not sure what people are expecting.

Are people not really wanting to sell?
Do they believe that all this will be reversed in a few months?
Are estate agents not telling it like it is?
Am I the only one who knocks at least a further 15% off rented because it's been so poorly maintained?
DO people believe renting is trouble free?
Am I completely wrong?

(FWIW I'm in London, should be buying but not remotely interested at these prices/in this market)

i popped into a local estate agent a couple of weeks ago just to see what they had to say re: buying (we sold ours and moved into rented in March). There were a couple i was interested in but the agent actually told me if she was in my position she would stay put and not buy for at least 12 months.

Obviously doesnt stop me looking though

You can always offer a good % down and see what happens.We had planned to buy next year but got 27% off a lovely(will be)house is a great location and so gave in.Renting is sooo expensive and i have been here a year and couldn't resist

Upwind I did not say that buyers should give a damn just that they don't. My response was to the original question which asked 'what is sellers current thinking' I gave mine from the other side of the fence.

Sellers aren't selling because there are not many genuine purchasers. People think the market will fall further but no one really knows. Also most chains end in a first time buyer and they are finding it impossible to get mortgages. If you look at what it costs to get a mortgage then most would blanche, the fees are astronomic even for a 20-25% deposit

PS as a seller I do not see the 'equity' as my money because I never had it in my pocket. Clearly I am banking on the fact that if my property falls in price then so do all other properties. I am undercutting what the estate agents have similar houses on for because I do not think the market is reflective of real value. I am happy to go to break even on the property but clearly if it meant paying someone to move into my house so I can rent (negative equity) then I won't.