The housing downturn louboutin platforms

In Bend, Ore., interior designer Ronda Fitton and her husband paid $500,000 for  a lot at Pronghorn, a gated louboutin platforms community with golf courses designed by Tom Fazio  and Jack Nicklaus, in 2006. A similar-size lot sold for $10,000 earlier this  year. Ms. Fitton is hopeful values will go up but she says the lot is "worth  nothing now. It's a real bummer." (Lot prices exclude membership fees.) Lots at  Rams Hill in Borrego Springs, Calif. are also selling for about $10,000,  compared with $100,000 at the peak.The housing downturn is partly responsible.  But the crash in value has been exacerbated by a development binge that  resulted in too many courses just as the sport of golf began to fade in  popularity.From 1990 to 2003, some 3,000 new courses were built in the U.S.,  swelling the total Cheap Christian Louboutin Platform CLB200A Sale number of courses nationally by 19% and costing about $20  billion, according to the National Golf Foundation.