The share of bad loans originated during the housing bubble between 2004 and 2008 has shrunk on a national basis, but some states still sit well above the average. Forbes contributor Daren Blomquist reports on the states that have run counter to the trend and are still being held back from returning to complete health.
Blomquist looked at the lingering bubble era loans from two perspectives, with the first being the actual number of bad loans in these states:
First, we simply looked at sheer volume of loans originated between 2004 and 2008 that are in foreclosure. By that measure, states with the biggest backlog are New Jersey, New York, Florida, California and Illinois, all of which still have more than 10,000 bubble-era loans still lingering in foreclosure.