Suburban America faces a new challenge with the rise of “dead golf courses.” Golf course failures have left homeowners and homeowner associations (HOAs) grappling with the loss of property values. Many real estate developments in the past built golf courses to attract buyers, but the recession and changing golfing trends led to fewer people playing, causing courses to become financially unviable. Homeowners now face the choice of acquiring the golf course, increasing HOA dues, or accepting redevelopment with little input. Legal battles ensue, with both course owners and homeowners suffering. HOAs must make tough decisions, while homebuyers in golf communities need to consider the true cost of ownership and involvement in the club. The issue is expected to affect thousands of communities in the coming years, impacting property values significantly.
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