Thursday, May 23, 2019

The Decline of Golf Courses Is A Win For YIMBY's

According to Pellucid Corporation, the golf course development boom began in the 90s and lasted for over a decade. However, since 2006 the golf course development industry has been in a sharp decline. Nearly 2,000 gold courses have close and only 557 have opened. This situation could be good for the lower middle class and the poor. As developers seize land we can expect the supply of housing to increase. In theory, allowing prices to float at market rates should reduce the price of housing. This situation is also politically sound since you don't have to worry about displacement and gentrification. NIMBY's may try to lobby against the increase of housing in favour of large luxury developments, but this should be a net good anyways. We'll see.

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