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.
2010 was a lousy year 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% in Northampton County.
Find out what's happening in Eastonwith free, real-time updates from Patch.
You'd have to go all the way back to 1983, twenty-eight 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% below the 4,740-deed average over the last ten years.
There's still no light at the end of the tunnel, either.
Find out what's happening in Eastonwith free, real-time updates from Patch.
Those homes that are selling are worth 6% 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 - 3088
2010 - 3325
2009 - 3248
2008 - 4006
2007 - 4932
2006 - 5841
2005 - 5918
2004 - 5893
2003 - 5662
2002 - 5491
2001 - 4942
2000 - 4613
1999 - 4952
1998 - 4448
1997 - 3928
1996 - 3907
1995 - 3738
1994 - 3976
1993 - 4015
1992 - 3834
1991 - 3473
1990 - 3555
1989 - 3932
1988 - 4434
1987 - 5145
1986 - 4616
1985 - 3831
1984 - 3406
1983 - 2893
-- Source: The Northampton County Recorder of Deeds office
*These numbers represent the first seven months of each year.