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The Wall Street Journal has a cool interactive map that you can play with to look at subprime lending across our great nation. Particularly disturbing are states such as California, Texas and espcially Florida where subprime lending made up between 24% – 36% of all mortgages written in those states.
I did a screen grab here of subprime volume as a percent of all loan volume by state. Look at Florida when you visit yourself; more than 1 out of 3 loans in Florida was of the subprime variety. Was this steering or is the credit risk in Florida that much worse? I have no idea.
What do you think?
Last 3 posts by Morgan
- Subprime Bananas - June 28th, 2009
- Roubini: No confidence in government exit strategy - June 24th, 2009
- Goldman bonuses largest in firm's 140-year history - June 21st, 2009
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