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Real Estate at 28-Year Low in Northampton County

No government program is going to help the housing crisis.

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.

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.

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.

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