Subprime Shakeout and Where it is Happening

The fallout from subprime lending defaults and other risky lending ventures made big news a few weeks ago, but now we are starting to get a clearer picture of the extent of the damage. Some resourceful bloggers have put the data into graphical form. The data floating around out there shows where the most subprime loans were made and also the locations where most are now in foreclosure.

For the most part the data isn't earth-shattering, because it seems that the most subprime loans were made around the major metro areas. I would guess this is because there are typically very wealth and poor people in these areas (or maybe just people in general). My theory is then that there were plenty of people buying more house than they could afford or investment property and also those who probably shouldn't have been offered a loan in the first place. However, that doesn't seem to always be the case if the maps are any indication. I'm not really sure what to make of these, but here they are...

Links
Dinocrat has some nice maps of subprime lending and subprime foreclosures

The Big Picture has a state by state subprime heat map that shows which states have the most subprime loans out there.