Posts

ICE: Early-Stage Delinquencies Tick Lower But Foreclosures Rise

-
Delinquency and foreclosure rates were little changed in most states in January according to the most recent Ice Mortgage Monitor . The national rate of total non-current mortgages remained at 4.1% as of January 31, 2026, as early-stage delinquencies declined slightly m/m, while those over 90 days delinquent or in foreclosure increased modestly. January state delinquency rankings were also little changed from those posted in December. The five states with the highest non-current rates remain Louisiana (8.6%), Mississippi (8.5%), Alabama (6.4%), Arkansas (6.1%), and Indiana (5.9%). Idaho, Washington, Montana, Colorado, and California had the lowest non-current rates, all 2.3% or less. The states seeing the greatest y/y increase in non-current rates were Utah (+18.1%), Maryland (+14.7%), Arkansas (+13.7%) , and Arizona (+13.4%). Florida, Hawaii and Vermont all saw y/y declines in their non-current rates.
Post a Comment
Read more

Choctaw Nation Contributes $4.1 billion to Oklahoma Economy

-
A new economic analysis puts the Choctaw Nation’s contribution to the Oklahoma economy at over $4.1 billion in 2023. The analysis was performed by Dr. Kyle Dean, formerly of Oklahoma City University. According to this analysis, the Tribe "supported 26,917 Oklahoma jobs, representing $1.653 billion in wages and benefits paid to Oklahomans”. Finally, the study notes that the Tribe’s gaming compact with the state has resulted in payments to the state from the Tribe of over $422 million. As a reference point, Oklahoma's GDP is approximately $276 billion.
Post a Comment
Read more

West Virginia: Governor Signs Economic Development Legislation

-
In late February, West Virginia Governor Patrick Morrisey signed the West Virginia First Small Business Growth Act into law. The law is designed to incentivise private investment, from what are referred to as “growth funds”, in the state’s small businesses, primarily through the use of tax credits. The legislation defines an “eligible business” as one that has “fewer than 250 employees and has its principal business operations in West Virginia”, and caps the total credits at $15 million per year.
Post a Comment
Read more

US BEA: Alaska and Hawaii Benefit Most From Outdoor Recreation

-
Image
The US Bureau of Economic Analysis has released its estimates of the economic impact of outdoor recreation on the states. Utilizing 2024 data, The BEA economists measured “(1) conventional activities such as bicycling, boating, hiking, and hunting; (2) other activities such as gardening and outdoor concerts; and (3) supporting activities such as construction, travel and tourism, local trips, and government expenditures”, and concluded that the outdoor recreation industry contributed 2.4% to US GDP in 2024. At the state level, Hawaii and Alaska enjoyed the greatest percentage contribution from outdoor recreation at 6.1% and 5.3% of GDP, respectively. In the lower 48, Montana posted the highest value added from outdoor recreation at 4.9%, and New York and Delaware the lowest at 1.6% each (DC was 1%). The below exhibit is reproduced from the press release.
Post a Comment
Read more

SK Battery Georgia Layoff

-
Yesterday, this blog featured a new post from the Dallas Fed that discussed the pivot by US battery manufacturers from EV batteries to power storage systems because of sagging EV sales in the US. As if on cue, today's newswires are reporting on the decision by SK Battery America to lay off nearly 1,000, or 37% of its employees, at its plant outside of Atlanta. Key company quote in this AP article : "We are pursuing a range of future customers, including the Battery Energy Storage System arena".
Post a Comment
Read more

Dallas Fed: EV Sales Slump Causes Battery Manufacturers to Pivot

-
Interesting post from the Dallas Fed Economics team that discusses the impact that the slump in EV auto sales has had on battery production gigafactories. The authors found that the diminished outlook for EV sales growth has led many battery manufacturers to shift their focus from the production of lithium-ion EV batteries to the production of battery energy storage systems. Most of these production facilities are located in the eastern half of the country.
Post a Comment
Read more

Report: Golf Contributes $6.4 billion to Wisconsin Economy

-
Who knew? A new study from the Radius Sports Group estimates that Wisconsin’s golf industry has a multi-billion impact on the state’s economy. Using data from 2023, Radius estimates that golf has a $3.4 billion direct impact on the state’s economy and a $6.4 billion direct and indirect impact. To put that into context, the most recent estimate by the US Bureau of Economic Research puts the state’s nominal GDP at approximately $478 billion. The glossy eight-page report put out by Radius and the state’s golf industry can be found here .
Post a Comment
Read more