Subprime "Crisis" Maps

This is the map version of the data shown in "The Subprime Lending Crisis" v.2 based on the data I extracted from the JEC report and adjusting for populations and personal income.



This is the Joint Economic Committee's crisis map. You'll note that Texas is in bright red. Texas has just 1/9th of the subprime problems California has (by total dollar amount) but just one third fewer people. Texas is not even remotely the epicenter of this crisis, in my opinion.

See Also:
Calculated Risk: JEC On Subprime Crisis
"The Subprime Lending Crisis"

Source Data:
JEC: The Subprime Lending Crisis
U.S. Census Bureau: State & County QuickFacts (2006)
BEA: State Quarterly Personal Income

"The Subprime Lending Crisis" v.2

(Click to enlarge.)

I have taken the data in the report (below) and adjusted it by the population and personal income of each state to once again show the states which are/were most affected by this "lending crisis."

I think we owe the Dakotas a round of applause for managing to avoid most of this mess. Sorry Hawaii! You appear to be the winner.

See Also:
Calculated Risk: JEC On Subprime Crisis
"The Subprime Lending Crisis"

Source Data:
JEC: The Subprime Lending Crisis
U.S. Census Bureau: State & County QuickFacts (2006)
BEA: State Quarterly Personal Income

Average Subprime Home Value Per Capita

This chart shows the average "subprime" home value per state divided by the personal income for that state (per capita).

See Also:
Calculated Risk: JEC On Subprime Crisis
"The Subprime Lending Crisis"
"The Subprime Lending Crisis" v.2

Source Data:
JEC: The Subprime Lending Crisis
U.S. Census Bureau: State & County QuickFacts (2006)
BEA: State Quarterly Personal Income

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

Subprime Home Value Map v.2

This is an update to a map I did previously and attempts to compensate for Hawaii and California skewing the national picture so much.

This map is based on the average of the subprime home prices and the standard deviation from that average. (Note that this average is not the true national subprime average though, since 1/8th of the population lives in California, which has very expensive homes. California would therefore pull up the national average if I did a weighted average.)

The average subprime home value of the states: $213,377.
The standard deviation of the average: $91,615

Pure red represents two standard deviations above the average. Pure yellow represents the average. Pure green represents two standard deviations below the average.

Hawaii is off the chart coming in at 3.45 standard deviations above the average. California is too, coming in at 2.55 standard deviations above the average. (I'd need an even brighter red to do them justice.) New York is next, coming in at 1.59 standard deviations above the average.

Oklahoma is the least expensive, coming in at 1.13 standard deviations below the mean. (There is no pure green on the chart.)

See Also:
Calculated Risk: JEC On Subprime Crisis
Subprime Home Value Map

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

"The Subprime Lending Crisis"

(Click to enlarge.)

I have taken the data in the report (below) and adjusted it by the population of each state to more accurately show, in my opinion, the states which are/were most affected by this "lending crisis."

See Also:
Calculated Risk: JEC On Subprime Crisis

Source Data:
JEC: The Subprime Lending Crisis
U.S. Census Bureau: State & County QuickFacts (2006)

Subprime Home Value Map

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

Subprime Loans Outstanding Map

This chart shows the estimated number of subprime loans outstanding divided by that state's population.

Nevada tops the list at 5.39% (and is shown as pure red). In other words, 5.39% of the population has a subprime mortgage loan apparently. That's fairly impressive if you keep in mind that a typical family would generally only need one at most.

Next comes Arizona (4.07%), Florida (3.91%), Colorado (3.36%), Maryland (3.0%), Utah (2.90%), and California (2.83%).

See Also:
Calculated Risk: JEC On Subprime Crisis
JEC Posts

Source Data:
JEC: The Subprime Lending Crisis
U.S. Census Bureau: State & County QuickFacts (2006)