A New Foreclosure Hot Spot Is Breaking Out

Welcome To Oregon

Photo: Wikipedia

Data released last month by the Federal Reserve shows that since the beginning of 2008, things have taken a turn for the worse in the state of Oregon.Essentially, Oregon is turning into a tar pit full of foreclosed homes in many counties and its unemployment rate and duration of unemployment is staggering to say the least.

On its own, the state may not grab your attention. But it symoblizes the fact that while some states are improving modestly (like California) the ongoing weak economy is causing a breakout in brand new states.

Check out how bad Oregon has become ->

First, here's the picture for the entire country:

Source: Federal Reserve

Now let's look at on microcrosm. In Oregon, unemployment is down ever so slightly

Source: Federal Reserve

Its housing market is weakening, still.

Source: Federal Reserve

Foreclosure rates are still rising

Source: Federal Reserve

Oregon is worse off than the most of the country in terms of existing interest-only loans

Source: Federal Reserve

February 2008, things aren't bad at all

Source: Federal Reserve

...then things get worse in November

Source: Federal Reserve

...and even worse a year later in 2009

Source: Federal Reserve

Upon closer inspection, you can see just how screwed the Beaver State is

Source: Federal Reserve

And now more areas are likely to be in trouble.

Source: Federal Reserve

Here's how the Fed thinks we should fix things

Source: Federal Reserve

Kill the scammers.

Source: Federal Reserve

There is hope after all...

Source: Federal Reserve

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