how silly.
If there was an era of overbuilding in the US, then he should have turned down some of his projects.
No doubt about it though, there was overbuilding and no doubt new course construction has come to a screeching hault.
Of course, the economic downturn plays a large role. But there are two other factors in play. First, the younger generation are all about immediate gratiification. Of course there are some decent junior golfers and junior golf programs, but this younger generation is not about hours and hours of practice and putting in the time and effort it takes to play even half-way decently. Golf is a frustrating, tough game.
And secondly, Tigermania is gone, as many of names that were associated with that era like Phil, Vijay,etc. They may still have a few wins left, but the heydey is over. The new group, they are certainly talented, but not enough appeal to make one want to sit by the TV for hours or forgo another activity. Tiger drew people to golf who could care less about the game, he was incredible in his day. The problems that the LPGA is experiencing and finding sponsors for PGA events IMHO will accelerate. And courses that are not competitively priced, given demand, will find themselves in big trouble.