Are the housing developers greedy in building a course solely to sell homes? They underwrite the entire project and then leave the course to fend for itself once they have sold all the homes. Usually this will be at the expense of the members or adjacent homeowners, whose expectations have been raised so high in an effort to get them to fork out some serious cash to join.
There are several courses for sale in Australia at the moment, but overseas buyers are very hesitant to purchase. They can find much better deals in other countries with much greater financial returns.
The supply of courses in some areas is so great compared to the demand. So if we lose a few in these regions the rest would most likely would all be better off operationally.