PRESENTING: A Blood-Hued History Of The East Coast's Mortgage Meltdown

June 2011

Photo: Federal Reserve Bank of New York

The Tri-state Area — New York, New Jersey and Connecticut — weren’t hit nearly as hard by the housing crisis as the sunbelt states.But for illustrating how that crisis evolved over time, they make a pretty good test case.

The New York Federal Reserve just released a really cool widget that chronicles the spike in the foreclosure rate in Tri-state counties from 2007 through 2011.

What’s most scary about these maps is that for many counties, the foreclosure rate has actually gone back up after coming down for a period — most likely as a result of the stalled “foreclosure pipeline.”

Bottom line: We still have a long way to go before the area’s housing market fully recovers.

Jan. 2007: Things start off calmly. Some notable stress in Suffolk County, Long Island and along the Pennsylvania border.

Jan. 2008: A year later, Connecticut and New Jersey get hit.

Jan. 2009: All but a single county in New Jersey are blowing up and Brooklyn is a goner at 4.2%. However, the overall pace has slowed down somewhat.

...

June 2009: The lull lasts six months. Every county in New Jersey is now above 1.3%. Brooklyn is now at 5.5%. The Bronx and Queens provide some cold outerborough comfort, having themselves topped 4%.

Oct. 2009: Just a single tri-state area county, Hamilton, remains below 1.3%. Jefferson and Erie counties in western New York have given up the ghost.

Jan. 2009: Long Island is now radioactive. Brooklyn foreclosures stand at 6.5%, while Suffolk County's climb to 5.9%. Essex County, home of Newark, N.J., leads the region at 9.3%.

Sept. 2010: We lose Hamilton County. The upstate stalwart turns tan, ending the month at 1.6%.

Jan. 2011: Just three New Jersey counties remain below 4%. Essex County now tops 11%.

June 2011: Average rate in Connecticut nears 5%. But things actually cool off a bit along Lake Ontario...

Dec. 2011:...But only for a moment. Hamilton County also hits 2% for the first time. The nightmare continues in Essex County, where foreclosures reach 12.1%.

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