Golf is dying: "lost 5 million players in the last decade... another 5 million will quit in the next

[maverick]

İ feel as jobs go so do the golfers and courses. My area lost manufacturing plant that employed 11,000 good paying jobs. Auto plant cut third shift. 3rd world countries will always work cheaper by choice or force. No sure if there's answer to golf business in this country (or job market).

 

Bingo! This is the truth. Golf did not shoot itself in the foot. The crash of 2007 did which we have never recovered from did the job. I have been reading article after article about the lose of factory jobs for years. Our real unemployment is extremely high. Once unemployment benefits run out you are not counted as unemployed. The real sad problem is the golfers that did quit were 'core' golfers who played on a a regular basis. Todays courses cost a fortune to keep 'perfect' as we all want. At my local muni it cost one dollar per hole to walk. Can it get any cheaper that that? I have no cure for golf's ills but believe it will continue to contract in areas that went crazy building golf courses. I think it will eventually level off. JMHO

[Soloman1]

The decline in golf started in the bubble years before the sub-prime burst.

[The Pearl]

Golf is dying, yet slow play seems to exists. A bit of a paradox.

 

 

Golf is a cyclical leisure activity that ebbs and flows with the economic cycle. Tiger created a boom in participation. The boom in participation was far above the historical industry trend line. Like any business/investing boom, the boom/bubble is unsustainable. Regression to the mean almost always wins in business. Those in the golf industry desperately believe that the participation rates in the Tiger era should have been maintained and built upon. Over expansion and the misallocation of capital must be flushed out of the system. There livelihoods depend on it and they are fighting the reality that golf, like all industries after a boom, is trying to find the equilibrium point between supply and demand. Hence the silly ideas to grow the game. Foot soccer, frisbee golf, oversized holes, and other various gimmicks are designed to supplement revenues, not grow the game. This is like promoting pickleball to increase tennis participation.

 

Furthermore, the reason's people don't play now are the same reason's people didn't play when I started playing in the 70's. The problems with golf are not new and the current leadership in golf, at all levels, won't overcome them. The $15 round with cart in 3 hours on a beautiful manicured course with the latest gear that cost $300 does not exist and never did.

 

Compound the above with diverse supply and demand for the game in different geographical and social/economic areas of the country and hence the different experiences we have as we play the game. For some in the more crowded and vibrant ares, golf is expensive and 5 hour rounds are the norm. I don't play more than one 4 hr or 4:15 round once a year. With the use of discounts/punch passes, etc. I can walk 18 regularly for $15 to $25 depending on the situation.

 

The golf leadership, at all levels, is at a crossroads. They don't know what to do because the idiotic mantra of "grow the game" comes in direct conflict with keeping your core customers.

[mjtoal]

Golf isn't dying. It is doing just fine, thanks.

 

It is losing a few fickle followers that jumped on the Tiger bandwagon but were never really golf fans. Tiger helped the purses on the PGA Tour enormously but did little for golf in places like the UK, so I do not miss many of those who can take their head to toe Nike outfits, Tour bags and love of riding carts and punching the air and bugger off. I will not be unhappy not to hear their thoughts from a couple of fairways away.

[maverick]

Tiger has nothing to do with golf's decline, which is a fact. Denial will not change that fact at least in the USA. Golf's boom followed the housing boom when we had almost no unemployment and were trying to cool off our economy. It was just a coincidence that they happened at the same time. Now golf is following a bad economy. I read and have read the business news daily for 30+ years. In Japan they are putting solar panels on golf courses that cannot make money. Argue with this.

 

[mjtoal]

Tiger has nothing to do with golf's decline, which is a fact. Denial will not change that fact at least in the USA. Golf's boom followed the housing boom when we had almost no unemployment and were trying to cool off our economy. It was just a coincidence that they happened at the same time. Now golf is following a bad economy. I read and have read the business news daily for 30+ years. In Japan they are putting solar panels on golf courses that cannot make money. Argue with this.

 

 

 

I am not denying that it is coming off a bubble in the US. I am saying it doesn't bother me. Sometimes these things need to come down a bit. I am not all broken up that entrepreneurs who thought they could get a big name to attach to a mediocre course and sell loads of expensive houses nearby have lost their shirts.

 

In the UK, golf is not driven by a housing boom and we don't have lots of courses built through blocks of condos, and I hope we never do.

 

Japan's economy is weird and has been in the doldrums for quite a while now. Not likely to change anytime soon.

 

I think Gary Player designed a course near denial. Or maybe it is nearer The Red Sea,

[rony]

This is very good reading! I'm going to say again that I have noticed a much higher level of discourse on Golfwrx recently. Many valid points on both sides. Excellent! :clapping:

[chicagolongball]

The newer golfers have not been taught how to play quickly or care about those around them. Played yesterday and it took 5.25 hrs. Every hole had newbies on it that we all over the place and not playing ready golf. On top of that almost every group had music playing in at least one of their carts. Hard to play good golf when waiting 3-4 minutes between shots.

 

I guess I should play less often and play more expensive course.

 

Very true. It would be nice if all golfers were required to take classes and put in practice before going on an 18 hole course, like many other countries do. The problem with trying to "grow the game" is when you reduce rates you get every newbie out there, which chases away all the avid players who don't want to play 5-6 hour rounds. Then when the newbies quit because it's too difficult, you're left with nobody. I think as opposed to focusing on volume of players in the sport, we should focus on helping the serious players play better and educating new players so they enjoy the game more and stick with it. 100 lifetime players is better than 500 who play 5 rounds a year until 2/3 quit entirely.

[Forged4ever]

The Game's gonna be just fine........

 

And we haven't lost nearrrrrllllllly enough :).....

 

Just my .01 worth

 

 

Have a nice week Ladies & Gents :)

 

Fairways & Greens 4ever My Friends,

RP

[rony]

The Game's gonna be just fine........

 

And we haven't lost nearrrrrllllllly enough :).....

 

Just my .01 worth

 

 

Have a nice week Ladies & Gents :)

 

Fairways & Greens 4ever My Friends,

RP

 

 

 

Agreed. At the risk of sounding sanctimonious; there is a difference between "Golfers" and people who want to "Play" some golf. :tongue:

[The Pearl]

I am not sure what the golf industry, or any of us for that matter, really want? Don't, as avid golfer's, we want the same thing? I want to play on a decent course that is well maintained, at a decent price, at a decent "pace", with available tee times and reasonable hours. I don't expect Augusta, I don't expect to play at rock bottom prices, I don't expect to drive up and walk on 24/7, and I don't expect to zoom around in 2hrs 45 mins just because I want to. There is a balance, but other than too few a players too cause courses to lack maintenance or close, than everything else above is adversely effected by too many players.

 

In 40 yrs of the game, I have never played in a foursome where somebody said, "I wish there were more players out here."

 

If you live in a part of the country where low play is effecting you in the area's I mentioned above, than you are going to have to give up the game or move. If you want to snow ski, you don't live in Florida.

[pkim31]

On a related note (?), NCAAF bowl lost significant viewership. Trends are moving towards soccer/athleisure/etc

[Arpeggi]

Too many old people.

[Plus5]

Good, now I can play faster.

[DTXgolfer12]

The Game's gonna be just fine........

 

And we haven't lost nearrrrrllllllly enough :).....

 

Just my .01 worth

 

 

Have a nice week Ladies & Gents :)

 

Fairways & Greens 4ever My Friends,

RP

 

 

 

Agreed. At the risk of sounding sanctimonious; there is a difference between "Golfers" and people who want to "Play" some golf. :tongue:

 

Yes. And Tiger as well as the economy have a STRONG effect on the latter of those groups. The "casual/occasional" golfer is strongly motivated by his interest in his favorite player and how much extra money he has. The "rain or shine" golfer (which is a lot of us) will play regardless. Those guys are the real foundation of the golf industry. Not the guys who play 3x a year and only watch when tiger is on the leaderboard (or rory or whoever else is currently GOAT)

[rony]

The Game's gonna be just fine........

 

And we haven't lost nearrrrrllllllly enough :).....

 

Just my .01 worth

 

 

Have a nice week Ladies & Gents :)

 

Fairways & Greens 4ever My Friends,

RP

 

 

 

Agreed. At the risk of sounding sanctimonious; there is a difference between "Golfers" and people who want to "Play" some golf. :tongue:

 

Yes. And Tiger as well as the economy have a STRONG effect on the latter of those groups. The "casual/occasional" golfer is strongly motivated by his interest in his favorite player and how much extra money he has. The "rain or shine" golfer (which is a lot of us) will play regardless. Those guys are the real foundation of the golf industry. Not the guys who play 3x a year and only watch when tiger is on the leaderboard (or rory or whoever else is currently GOAT)

 

Dead on correct! The above post is why "Golfers" have nothing to be concerned about.

[Soloman1]

Too many old people.

 

Golf would be dead and buried if it weren't for old people.

61% of golfers are over 50 and they account for 53% of merchandise sales and 50% of all greens fees.

 

Under 30 golfers account for the whopping total of 5% of all golf sales.

 

BTW, "old" is defined as:

 

O=S1(ca)+1

 

Where O=old

S1=Soloman1

(ca)=current age

 

[BIG STU]

Too many old people.

 

Golf would be dead and buried if it weren't for old people.

61% of golfers are over 50 and they account for 53% of merchandise sales and 50% of all greens fees.

 

Under 30 golfers account for the whopping total of 5% of all golf sales.

 

BTW, "old" is defined as:

 

O=S1(ca)+1

 

Where O=old

S1=Soloman1

(ca)=current age

LOL simple but true. Another true statement "Don't mess with us old guys!" :to_become_senile: :taunt:

[youraway2]

I've read the many perspective’s above, even mine, but I wanted to express something that really bothers me that will not be palatable to many. I'm a "traditionalist" and believe the loss of or weakening traditional standards are why many leave the game. I'm not talking about new "recreational" golfers leaving, I'm talking about those who knew and loved the game as it was.

 

Over the last few years we're growing the game by bringing in those new golfers who know little about the game, how it's played or even why. They don't have a clue of the basic premises of the game, maybe don't care, and other golfers never try to teach them. What we have/had now is a result of the influx of recreational golfers who spit sunflower seeds or chew on the greens, drink too much beer while playing and throw their empty cans in the wood lines or hazards. They dress in tank tops and jogging shorts while looking forever for that lost ball somewhere where they didn't see it go since they weren't looking because they were slamming their driver down in disgust, and forget knowing how to play a Provisional Ball. All this while the music blares!

 

Now if this is what's occurring at your course to "Grow the Game" then golfers like me will move on to another course. I'll not quit because I love playing the game, I love its history and traditions. I love being around others who respect the game and their fellow golfers.

 

When I travel I can't wait to get to play a course with historical values such as Alister MacKenzie, A. W. Tillinghast, Robert Trent Jones, or Donald Ross or many of the great architectural greats. Of course I like well maintained courses, but I also like to play them as designed and maybe not so lush. I hate to see ball marks on greens not repaired, unfilled or not replaced divots, and footprints left in bunkers. I hate to see a bunch of clowns riding around in circles haphazardly in their carts looking for the ball while the music blares and having no thoughts of those waiting behind them. I just can't understand how that's part of the game.

 

A little about me; I've never belonged to a private club and have always frequent municipals and military courses. I'm not wealthy and cannot afford to join expensive private or resort courses. I volunteer over 60-days a year to work in junior and amateur tournaments each year while serving on a Course Rating Team. I try to play golf at least five days a week and am ready to assist my local course with serving on Committees or providing free labor such as laying sod or driving hazard stakes in the ground. I'm not boosting I'm just trying to explain why an old man such as I see things in a different prospective than many who have posted on this topic.

 

If golfers fit my negative profile I've described then for me I'm glad to see them leave the game. As a suggestion for any that may be offended by my thoughts I would suggest one think about learning the game, why and how it's played, the Rules, and to compete. Yes compete, don't just play golf with your buddies. Most all courses offer many opportunities to play in competition. You might think, I'm not that good, but you'd be surprised you probably are and can compete against others within your ability (NET). I assure you one think, if you compete fairly under the Rules, you will improve and you will get better. You'll also start recognizing and understanding proper etiquette on the course.

 

Also if you run into an old golfer like me, I hope he/she will spend the time with you to teach you about golf’s history, what makes the game so great and how to respect it and your fellow competitors. I know there's other like me posting on this site with a love of the game, it's obvious and I appreciate their views and thoughts.

 

Might I plagiarize; "Fairways and Greens 4ever My Friends"

[jrice19]

Not in AZ.

[thug the bunny]

Yes, but the average handicap in the US has an average score of about 100.

100 x 4 players = 400 shots

400 shots/18 holes = 22.2 shots per hole

Using your imperative of 3.5 hours per round, that means an average of 11.6 minutes per hole, including time between holes.

11.6 minutes per hole / 22.2 shots per hole = 30 seconds per shot, including walking/riding between shots.

But not everyone is average. The group speed is limited to the slowest player and an average group will have someone taking more than average strokes.

Speed of your round is limited to the slowest group ahead of you.

Searching for balls will add to the time. Below average skill players don't hit it so straight.

 

I think 3.5 hours is an unrealistic expectation, so you're setting yourself up for frustration.

 

Here's the kicker. The same people complaining about slow play are the same people who drive like bats out of hell to get to the next red light, where they act like a dragster driver watching the starting tree of lights, just to rush to the next light 1/4 mile down the road.

 

It usually turns out that the people rushing around the course only want to rush home to sit on the couch. What's the point? :)

 

I need to copy this to paste into every 'slow play' thread. I could never ever understand the mindset of golfers who want to get their round over with as fast as possible. And no, I'm not a slow player. I like a 3.5 pace, but I'm not going to twist up my panties over a 4.5 pace. Re-freakin-lax folks!

 

PS, I did just paste that into a doc for later use...;-)

[Drudersh]

The decline in golf started in the bubble years before the sub-prime burst.

 

Wrong. The decline of golf followed the sub prime mortgage crisis. And many courses that have closed were courses built during the bubble years in close proximity to housing markets that expanded too quickly and crashed the hardest.

 

The other problem associated with the mortgage crisis was the fact that many people lost close to 40% of their portfolio values. If you were 45-55 years old and had saved and planned well, contributed to your 401k etc, all of the sudden you went from heading into retirement with disposable income to having to plan how to get bye month to month on what was left. If you've still got a mortgage, kids in college and all the other things that come along with life, it's not hard to see why people would stop spending what they had left on golf.

[thug the bunny]

Too many old people.

 

Golf would be dead and buried if it weren't for old people.

61% of golfers are over 50 and they account for 53% of merchandise sales and 50% of all greens fees.

 

Under 30 golfers account for the whopping total of 5% of all golf sales.

 

BTW, "old" is defined as:

 

O=S1(ca)+1

 

Where O=old

S1=Soloman1

(ca)=current age

 

I wasn't sure if he was trying to be funny or not. If he was serious, that's pretty f'd up. What's next, too many white guys? Too many asians?

[Break81]

I was at Torrey Pines on Saturday for Rd 3 and at least 25% of the gallery, maybe more were people who have never played the game or play it very seldom..... many were just a bunch of hammered college kids who want to scream, "Bobba bouy!" or "Get in the hole?" Not complaining though, nothing wrong with a bunch of nice looking sorority chick walking around all dressed up either.

 

My thoughts are golf has multiple money streams....... some courses in select areas may struggle, the number of golfers playing may be at a plateau, but the money golf is generating with tournaments and the fashion industry is still very much growing. Ask yourself, have the purses gotten smaller?

[Forged4ever]

Too many old people.

 

Golf would be dead and buried if it weren't for old people.

61% of golfers are over 50 and they account for 53% of merchandise sales and 50% of all greens fees.

 

Under 30 golfers account for the whopping total of 5% of all golf sales.

 

BTW, "old" is defined as:

 

O=S1(ca)+1

 

Where O=old

S1=Soloman1

(ca)=current age

How I feel about this(that ole self-interest bulls*** :) ) depends on if I'm considered "old."

 

If so, Bro, you're full of s*** and are speaking from the ignorance of youth :)

 

If not, then you old ba****** are one your own, LMAO

 

Have a great weekend both Young & Old :)

 

Golfingly Yours,

Richard

[Ruddy]

I've read the many perspective’s above, even mine, but I wanted to express something that really bothers me that will not be palatable to many. I'm a "traditionalist" and believe the loss of or weakening traditional standards are why many leave the game. I'm not talking about new "recreational" golfers leaving, I'm talking about those who knew and loved the game as it was.

 

Over the last few years we're growing the game by bringing in those new golfers who know little about the game, how it's played or even why. They don't have a clue of the basic premises of the game, maybe don't care, and other golfers never try to teach them. What we have/had now is a result of the influx of recreational golfers who spit sunflower seeds or chew on the greens, drink too much beer while playing and throw their empty cans in the wood lines or hazards. They dress in tank tops and jogging shorts while looking forever for that lost ball somewhere where they didn't see it go since they weren't looking because they were slamming their driver down in disgust, and forget knowing how to play a Provisional Ball. All this while the music blares!

 

Now if this is what's occurring at your course to "Grow the Game" then golfers like me will move on to another course. I'll not quit because I love playing the game, I love its history and traditions. I love being around others who respect the game and their fellow golfers.

 

When I travel I can't wait to get to play a course with historical values such as Alister MacKenzie, A. W. Tillinghast, Robert Trent Jones, or Donald Ross or many of the great architectural greats. Of course I like well maintained courses, but I also like to play them as designed and maybe not so lush. I hate to see ball marks on greens not repaired, unfilled or not replaced divots, and footprints left in bunkers. I hate to see a bunch of clowns riding around in circles haphazardly in their carts looking for the ball while the music blares and having no thoughts of those waiting behind them. I just can't understand how that's part of the game.

 

A little about me; I've never belonged to a private club and have always frequent municipals and military courses. I'm not wealthy and cannot afford to join expensive private or resort courses. I volunteer over 60-days a year to work in junior and amateur tournaments each year while serving on a Course Rating Team. I try to play golf at least five days a week and am ready to assist my local course with serving on Committees or providing free labor such as laying sod or driving hazard stakes in the ground. I'm not boosting I'm just trying to explain why an old man such as I see things in a different prospective than many who have posted on this topic.

 

If golfers fit my negative profile I've described then for me I'm glad to see them leave the game. As a suggestion for any that may be offended by my thoughts I would suggest one think about learning the game, why and how it's played, the Rules, and to compete. Yes compete, don't just play golf with your buddies. Most all courses offer many opportunities to play in competition. You might think, I'm not that good, but you'd be surprised you probably are and can compete against others within your ability (NET). I assure you one think, if you compete fairly under the Rules, you will improve and you will get better. You'll also start recognizing and understanding proper etiquette on the course.

 

Also if you run into an old golfer like me, I hope he/she will spend the time with you to teach you about golf’s history, what makes the game so great and how to respect it and your fellow competitors. I know there's other like me posting on this site with a love of the game, it's obvious and I appreciate their views and thoughts.

 

Might I plagiarize; "Fairways and Greens 4ever My Friends"

This is a well-thought out post, and I agree with all of it except the NET remark. Because the USGA Handicap system is flawed, because it's based on a flawed assumption : That EVERY and ALL golfers are honest. They are not. It only takes one cheater or sandbagger to ruin the entire tournament. Therefore, I say compete on a gross basis only. I know some players are flat out better, and that's ok, they should win and they set a standard for which I can strive. The USGA hc system enables cheaters, and is hurting the game. I, for one, no longer enter any hc events. It only takes one.

[youraway2]

I've read the many perspective’s above, even mine, but I wanted to express something that really bothers me that will not be palatable to many. I'm a "traditionalist" and believe the loss of or weakening traditional standards are why many leave the game. I'm not talking about new "recreational" golfers leaving, I'm talking about those who knew and loved the game as it was.

 

Over the last few years we're growing the game by bringing in those new golfers who know little about the game, how it's played or even why. They don't have a clue of the basic premises of the game, maybe don't care, and other golfers never try to teach them. What we have/had now is a result of the influx of recreational golfers who spit sunflower seeds or chew on the greens, drink too much beer while playing and throw their empty cans in the wood lines or hazards. They dress in tank tops and jogging shorts while looking forever for that lost ball somewhere where they didn't see it go since they weren't looking because they were slamming their driver down in disgust, and forget knowing how to play a Provisional Ball. All this while the music blares!

 

Now if this is what's occurring at your course to "Grow the Game" then golfers like me will move on to another course. I'll not quit because I love playing the game, I love its history and traditions. I love being around others who respect the game and their fellow golfers.

 

When I travel I can't wait to get to play a course with historical values such as Alister MacKenzie, A. W. Tillinghast, Robert Trent Jones, or Donald Ross or many of the great architectural greats. Of course I like well maintained courses, but I also like to play them as designed and maybe not so lush. I hate to see ball marks on greens not repaired, unfilled or not replaced divots, and footprints left in bunkers. I hate to see a bunch of clowns riding around in circles haphazardly in their carts looking for the ball while the music blares and having no thoughts of those waiting behind them. I just can't understand how that's part of the game.

 

A little about me; I've never belonged to a private club and have always frequent municipals and military courses. I'm not wealthy and cannot afford to join expensive private or resort courses. I volunteer over 60-days a year to work in junior and amateur tournaments each year while serving on a Course Rating Team. I try to play golf at least five days a week and am ready to assist my local course with serving on Committees or providing free labor such as laying sod or driving hazard stakes in the ground. I'm not boosting I'm just trying to explain why an old man such as I see things in a different prospective than many who have posted on this topic.

 

If golfers fit my negative profile I've described then for me I'm glad to see them leave the game. As a suggestion for any that may be offended by my thoughts I would suggest one think about learning the game, why and how it's played, the Rules, and to compete. Yes compete, don't just play golf with your buddies. Most all courses offer many opportunities to play in competition. You might think, I'm not that good, but you'd be surprised you probably are and can compete against others within your ability (NET). I assure you one think, if you compete fairly under the Rules, you will improve and you will get better. You'll also start recognizing and understanding proper etiquette on the course.

 

Also if you run into an old golfer like me, I hope he/she will spend the time with you to teach you about golf’s history, what makes the game so great and how to respect it and your fellow competitors. I know there's other like me posting on this site with a love of the game, it's obvious and I appreciate their views and thoughts.

 

Might I plagiarize; "Fairways and Greens 4ever My Friends"

This is a well-thought out post, and I agree with all of it except the NET remark. Because the USGA Handicap system is flawed, because it's based on a flawed assumption : That EVERY and ALL golfers are honest. They are not. It only takes one cheater or sandbagger to ruin the entire tournament. Therefore, I say compete on a gross basis only. I know some players are flat out better, and that's ok, they should win and they set a standard for which I can strive. The USGA hc system enables cheaters, and is hurting the game. I, for one, no longer enter any hc events. It only takes one.

 

I understand and have witnessed your prospective. I have experienced these cheaters. Last year I played to my honest handicap in a state NET event and was bettered by another golfer playing 10 shots under his handicap in the first round and 8 shots better in his second. Nothing was done and he still dominates many of NET competitions he plays in. One tool, and it's a most valuable tool, is the courses Handicap Committee. My course recently established one and they have made a difference. I travel all over and play many courses and I seldom see a course actually having a Committee. Our last big tournament the Committee challenged two visiting golfers handicaps, one withdrew and the other agreed to play gross only.

 

The USGA has established a handicap program that identifies ones "playing potential" therefore your handicap is actually a number that represents how good you can play, not an averaging score like bowling. When golfers play below their handicap it should be seldom at best. When a golfer frequently plays better than their playing potential; something is wrong. The hard part is their peers should call them out. The course should have an active Handicap Committee following the guidelines established by the USGA; but few do.

 

After all I have said and all the USGA has tried to do, I have to agree with your comments. Playing in NET competitions is flawed at best. The cheaters always will find a way to take advantage of the system and when they do I cant understand how they could feel any sense of excitement in their accomplishment. They didn't win, they cheated.

[Soloman1]

The decline in golf started in the bubble years before the sub-prime burst.

 

Wrong. The decline of golf followed the sub prime mortgage crisis. And many courses that have closed were courses built during the bubble years in close proximity to housing markets that expanded too quickly and crashed the hardest.

 

The other problem associated with the mortgage crisis was the fact that many people lost close to 40% of their portfolio values. If you were 45-55 years old and had saved and planned well, contributed to your 401k etc, all of the sudden you went from heading into retirement with disposable income to having to plan how to get bye month to month on what was left. If you've still got a mortgage, kids in college and all the other things that come along with life, it's not hard to see why people would stop spending what they had left on golf.

 

Golf course closings started exceeding openings in 2006. 2006 is before 2008.

[rony]

As a golfer for more years than I care to own up to; I'd like to add that in addition to golfers that have no idea what they are doing on a golf course, many of the owner/operators of the "Kajillion" Golf Courses opened in the last 25 years, also have no idea of what they are doing! It used to be that people who opened golf courses were golfers, either professional or amateur. Then it became Real Estate developers who didn't know a Putter from a Driver but DID understand that those two golf clubs (In addition to 12 others) had the ability to generate a lot of "Cabbage." When those "Clowns" got into the act, it all started to go downhill! :rolleyes:

[Drudersh]

The decline in golf started in the bubble years before the sub-prime burst.

 

Wrong. The decline of golf followed the sub prime mortgage crisis. And many courses that have closed were courses built during the bubble years in close proximity to housing markets that expanded too quickly and crashed the hardest.

 

The other problem associated with the mortgage crisis was the fact that many people lost close to 40% of their portfolio values. If you were 45-55 years old and had saved and planned well, contributed to your 401k etc, all of the sudden you went from heading into retirement with disposable income to having to plan how to get bye month to month on what was left. If you've still got a mortgage, kids in college and all the other things that come along with life, it's not hard to see why people would stop spending what they had left on golf.

 

Golf course closings started exceeding openings in 2006. 2006 is before 2008.

 

There's a difference between a decline and an over-saturated market correcting itself. Starbucks' decline began in 2006 as well because they simply had too many locations, but they reformed their model and have seen their stock price more than double since that time.

 

The housing market also started it's decline before the bubble finally burst in 2008. Here's a link to the National Association of Home builders market index:

 

http://www.tradingeconomics.com/united-states/nahb-housing-market-index

 

You'll notice a steep decline beginning in 2006, which coincides with the number of closures overtaking new courses being built.