Community Corner
Real Estate at 28-Year Low in Northampton County
Columnist Bernie O'Hare says things aren't likely to get better anytime soon.
The year 2010 was a lousy one for real estate in Northampton County. Realtors escrowed licenses, and the the local recorder of deeds office was about as busy as a church on Monday. The next year would be better, everyone said.
Guess what? It's worse.
Throughout the first seven months of 2011, the real estate market has slumped another 7.1 percent in Northampton County.
Find out what's happening in Nazarethwith free, real-time updates from Patch.
You'd have to go all the way back to 1983, 28 years ago, when Madonna was still Like a Virgin, to find a worse year. The 3,088 deeds recorded during the first seven months of 2011 is a whopping 35 percent below the 4,740-deed average over the last 10 years.
There's still no light at the end of the tunnel, either.
Find out what's happening in Nazarethwith free, real-time updates from Patch.
Those homes that are selling are worth 6 percent less than they were a year ago, too.
President Obama's solution of throwing stimulus money at every problem has certainly failed in the housing market. His tax credit for new home buyers was over before most people even knew it existed.
As Obama himself admitted at a recent Twitter Town Hall, he's blown this one and it's "back to the drawing board." He even acknowledged that "no federal program is going to be able to solve the housing problem.”
Gee, that sounds... Republican.
So, what is the answer? As he finally did in the debt ceiling debate, perhaps it's time to listen to those evil Republicans and adopt policies that allow businesses to grow, instead of government.
Northampton County Deed Transfers*
2011 - 3,088
2010 - 3,325
2009 - 3,248
2008 - 4,006
2007 - 4,932
2006 - 5,841
2005 - 5,918
2004 - 5,893
2003 - 5,662
2002 - 5,491
2001 - 4,942
2000 - 4,613
1999 - 4,952
1998 - 4,448
1997 - 3,928
1996 - 3,907
1995 - 3,738
1994 - 3,976
1993 - 4,015
1992 - 3,834
1991 - 3,473
1990 - 3,555
1989 - 3,932
1988 - 4,434
1987 - 5,145
1986 - 4,616
1985 - 3,831
1984 - 3,406
1983 - 2,893
-- Source: The Northampton County Recorder of Deeds office
*These numbers represent the first seven months of each year