Kudos to the people at East Bay Housing Bubble for putting this chart together. To see more and join in their discussion, click HERE

The Federal Reserve Bank of New York developed an incredible interactive map that shows the prevalence and performance of non-prime loans throughout the country. You can sort by subprime or by alt-a loans. Some of the results are pretty incredible.

In California, for example, 38.2% of all loans are subprime and 48.3% are alt-a…meaning that a whopping 86.5% of all outstanding loans at NOT PRIME!

Finally, The Wall Street Journal reports As Gas Prices Spike, Suburban Home Prices Fall

Rising gasoline prices have affected much of American life –- from the cars we drive to the vacations we take. A new study, however, indicates that increasing gas prices may have the strongest impact closer to home — the houses we choose to live in.

In a report entitled “Driven to the Brink: How the Gas Price Spike Popped the Housing Bubble and Devalued the Suburbs,” released this month by CEOs for Cities, economist Joe Cortright contends that while predatory lending and subprime mortgages had a hand in today’s housing crisis, higher gas prices played a major role –- and will have a much longer-lasting impact on U.S. consumers’ home-buying preferences.

…The study notes that while initiatives by states and the federal government to ease the housing market’s woes will have some positive effect on the real-estate market in the months ahead, higher fuel costs will permanently impact the suburban landscape as more home buyers choose to reside in closer-in locations that offer shorter commutes and mass transit.

He point out that in metropolitan areas like Chicago, Los Angeles, Pittsburgh, Portland and Tampa, home prices have fallen more in farther-flung ZIP codes than in close-in neighborhoods. For instance, in Chicago, while housing prices have remained stable in close-in neighborhoods within three miles of the city’s central business district over the past 12 months, home prices have fallen 4% in “distant” neighborhoods 13 miles from the central business district. And in Los Angeles, while home prices have dropped 6% in close-in neighborhoods, they have decreased 10% in distant neighborhoods, according to the report.