The housing market was on a huge upswing through about May 2006. It\u2019s stagnated there for a while and now there is talk of the bubble bursting. The sub-prime market – mortgages made to those who don\u2019t qualify for legitimate mortgages – is a mess, and part of the problem. Overvaluation is also a problem.<\/p>\n
Here\u2019s a nice graph of what\u2019s happening with housing prices in 20 major cities (link):<\/p>\n
So, what\u2019s the effect on golf courses? Myrtle Beach last year:<\/p>\n
Sixteen area courses closed in 2005 and 2006, all with redevelopment plans that included housing developments.<\/p><\/blockquote>\n
And now\u2026<\/p>\n
The rash of course closures has remedied a struggling golf market that had been saturated with layouts, and contributed to the flooding of a housing market that has been burdened with increased listings but slower sales over the past two years.<\/p><\/blockquote>\n
If courses aren\u2019t now jumping to convert to the housing developments, at least they\u2019re not closing. I suppose that\u2019s an improvement.<\/p>\n
Looking at the cities listed in the graphic above, we can get a sense for what \u201cgolfing cities\u201d housing markets are hit the hardest. I don\u2019t have any data on the state of golf course closings or developments in these cities, but my best guess would be that course development projects will slow with the housing market. <\/p>\n","protected":false},"excerpt":{"rendered":"
The housing market was on a huge upswing through about May 2006. It\u2019s stagnated there for a while and now there is talk of the bubble bursting. The sub-prime market – mortgages made to those who don\u2019t qualify for legitimate mortgages – is a mess, and part of the problem. Overvaluation is also a problem. […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[213],"tags":[1163,258,691],"class_list":["post-856","post","type-post","status-publish","format-standard","hentry","category-golf","tag-golf","tag-house","tag-housing-effect"],"_links":{"self":[{"href":"http:\/\/yugflog.com\/blog\/wp-json\/wp\/v2\/posts\/856","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/yugflog.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/yugflog.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/yugflog.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/yugflog.com\/blog\/wp-json\/wp\/v2\/comments?post=856"}],"version-history":[{"count":1,"href":"http:\/\/yugflog.com\/blog\/wp-json\/wp\/v2\/posts\/856\/revisions"}],"predecessor-version":[{"id":857,"href":"http:\/\/yugflog.com\/blog\/wp-json\/wp\/v2\/posts\/856\/revisions\/857"}],"wp:attachment":[{"href":"http:\/\/yugflog.com\/blog\/wp-json\/wp\/v2\/media?parent=856"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/yugflog.com\/blog\/wp-json\/wp\/v2\/categories?post=856"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/yugflog.com\/blog\/wp-json\/wp\/v2\/tags?post=856"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}