The states damaged by the financial crisis still stand out a decade later

“A decade later, echoes of the financial crisis still linger in mortgage debt data, according to research released by the New York Fed on Tuesday” writes Senior Economics Reporter for Some states, like Texas, North Dakota and Delaware, have mortgage balances more than 10% above their previous peak.The report found that states hit hardest by the Great Recession continue to have subdued mortgage balances relative to other states that avoided the turmoil.Overall mortgage debt increased $139 billion last quarter, the largest increase since the first quarter.Mortgage debt remains 4.4% below the previous peak reached in the third quarter of 2008.

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