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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.

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.

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

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