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Debt Servitude In Santa Fe: A Visual Overview, With Numbers

December 23, 2009, 12:00 am
By Corey Pein
SFR's year-end issue has a brief overview of how New Mexico and Santa Fe County fared economically in 2009. The short answer is, worse than was reported.

Here's a little holiday bonus: Background research. These cold numbers may be small consolation if you're among the unemployed, or the employed-but-broke, but then again, at least you'll know you're not alone.

The map below links to the New York Fed's nationwide "credit conditions" data, where you can see how Santa Feans are doing when it comes to repaying their credit cars, student loans and mortgages on time.

nyfedbanks

But wait, there's more.



These Excel spreadsheets have loads of state-by-state data on the performance of non-prime mortgage loans. Right-click to download them here (subprime loans) and here (alt-A loans). They show that 8.1 percent of alt-A (read: slightly better than subprime) mortgages, and 10.5 percent of subprime mortgages in New Mexico are in foreclosure.

Curiously, they also show that New Mexicans are paying relatively high interest rates on their mortgages.

Theories, anyone? Explanations? Gripes?

 

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