Yesterday I posted Mortgage Delinquencies by State: per cent and Number for Q1 2011. This raised the question of how this compares to before the crisis – and also a comparison to the peak of the delinquency crisis nationally (Q1 2011). (ht Cinco-X)
The following graph shows the per cent delinquent by bucket of delinquency for the 10 worst states in Q1 2007, Q1 2010 (the peak of the crisis nationally), and Q1 2011. These are the 10 worst states sorted by the current per cent seriously delinquent.
For each state there are 3 columns (Q1 2007, 2010, and 2011). In Ohio and Indiana, delinquency rates were already elevated by Q1 2007.
Some states have made progress: Arizona, Nevada and California. For other states like New Jersey and New York, serious delinquencies were higher in Q1 2011 than in Q1 2010.
But even though there has been some progress, there is a long way to go to get back to the 2007 rates.
Note: I posted the other 40 states here