Real estate investing tip

Seaside golf courses such as Pebble Beach can be some of the most valuable real estate in the world. The world is still full of spectacular undeveloped seacliffs and seaside linkslands where what's prevented golf course development has been lack of fresh water. Baja California is the most obvious example.

Now, however, the paspalum variety of grass has been developed, which can be watered with seawater straight out of the ocean. It's such a good grass for golf courses that a number of existing seaside courses are converting to it. This opens up an extraordinary amount of seaside to be the next Pebble Beach. (This also implies: don't overpay for existing oceanside resort golf courses, since the supply, especially in Mexico and the Caribbean, is likely to boom in coming decades.)

My published articles are archived at iSteve.com -- Steve Sailer