In the golf real estate realm, developers build courses to sell houses. They hire big-name designers like Jack Nicklaus, Coore and Crenshaw or Robert Trent Jones Jr. to lend star power to create an impressive 18 holes, confident the chance to play such a layout every day will draw buyers willing to pay millions for a second home or vacation escape. That arms race of tee boxes and greens slowed prior to the Covid-19 pandemic with golf’s popularity declining. The game saw 5% fewer rounds played in 2018 compared to 2017,according to the National Golf Foundation. More concerning, the foundation reported almost 200 golf courses closed in 2018, with only 12 opening. Then, as 2019 stumbled into 2020 in a haze of shutdowns and social distancing, golf took flight again. Fresh air and expansive fairways meant the sport perfectly defied Covid restrictions. Meanwhile, well-heeled home shoppers accelerated their purchase plans in exclusive communities to escape urban crowds. Savvy real estate companies hustled into the golf space to cash in on the rush. Now, the worst of Covid is presumably over, with mandatory masking and shuttered recreation options already a distant memory. Home builders and sellers who boosted their business on golf’s boom now have to wonder if the game and all the business it entails will slide back to 2018 or 2019 numbers. Mor …
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