The Realtors applied various stress tests to the Tampa area market. Here was one such test:
The local housing market will experience a price decline of 5% only under extreme unlikely scenarios. For example, mortgage rates rising to 13.5% in combination with local job losses totaling 66,000 could lead to a price decline.Could lead to a price decline? Price declines would be a virtual certainty. If those conditions happen price declines would be far greater then 5%. The results of their stress test is complete BS.