Quote:
Originally Posted by ricthemic
About five years ago Sun City had to close one of about six 18 hole golf courses. How wd you like to have purchased a home on the golf course which is now a pasture? Why did they close it? Every year the average age in sun city increases due to the fact that younger
Retirerees are not buying there. Demand for golf decreasing.
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The problem in a lot of built out retirement communities is that over time the community's average/median age increases. As they age folks tend not to use the golf courses, tennis courts, swimming pools, softball fields and the like as much as they did when they were younger. They do not care much about updating or even supporting them or the clubhouses and recreations centers. Things tend to go downhill.
If younger folks buy into these communities they want to update the facilities which costs money. The young-old become pitted against the old-old who do not want to spend the money to update or even have their property taxes increase because their homes become more valuable as a result of community improvements.