There has been much discussion lately about the drop in popularity of golf clubs, and its implications for the South Florida real estate market.
The number of golf courses has declined steadily since 2006, with hundreds more closing each year than opening. The majority of these are public courses, as local governments cannot afford to keep losing taxpayers’ money to maintain their courses.
The issue is basically one of supply and demand. The attrition rate is increasing as fewer people are taking up the sport. Golf is an expensive activity with a very steep learning curve.
South Florida is home to many mandatory membership country clubs. Some are more financially healthy than others. Most were built in the 1980’s and 1990’s during golf’s heydey.…