Thursday, July 19, 2007

Mortgage Delinquencies Rising in Oklahoma

I got this from The Big Picture. I can't read the stories behind it (Barry gives the links) because they are behind subscription firewalls. Hey, I can't afford everything.

I can tell from the maps, however, that the Oklahoma City and Tulsa metropolitan areas are both getting hard hit. The area near Ft. Smith, Arkansas is getting even harder hit. I don't know what is causing that.

What is interesting is that this is happening at a time when the oil industry is starting to make a comeback in Woodward, Oklahoma (near the Oklahoma panhandle). But while there are several large oil companies in the Oklahoma City and Tulsa area (Devon, Chesapeake, Anadarko, Phillips, Williams), it is surprising that we have not seen the rush to hire new people.

The delinquencies are probably due to the closing of Firestone, Dayton and other industrial manufacturing plants locally. I reported on that earlier here and here.

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