This shows the average "subprime" home values as seen in the JEC report.
I've colored each state using a smooth scale from green (inexpensive) to lime green (fairly inexpensive) to yellow (mid priced) to orange (high priced) to red (most expensive).
Note Hawaii in the lower left corner. Apparently that average $529,346 is based on subprime loans. Go figure.
See Also:
Calculated Risk: JEC On Subprime Crisis
Subprime "Crisis" Maps
Source Data:
JEC: The Subprime Lending Crisis
average home value calculated using the 2006 Home Mortgage Disclousure Act (HMDA) data for subprime first-lien loans and loan-to-value ratios courtesy of the Center for Responsible Lending
I am surprised Calif & Hawaii are the only two expensive places. I would have thought Florida, Conn, or N.J. even Mass would have expensive housing
ReplyDeleteGreat visuals.
thanks
The chart is based on the subprime mortgage loans, so in theory the houses owned by the Bill Gates of the world would most likely be missing.
ReplyDeleteFurther, the scale might be worth explaining. I'm not sure I did the chart justice (or perhaps just the wording to my scale justice).
Oklahoma is pure green, coming in at just $110k. Hawaii is pure red coming in at $529k. That puts pure yellow, the midpoint, at about $320k. Mid priced isn't all that cheap and I'm not all that sure I did the wording justice.
In any event, it does point out just how far California has gone by comparison to the rest of the country (except Hawaii).