Posted by: Chris Palmeri on November 24, 2009
I suspect many a real estate mogul got their start playing the board game classic Monopoly. It has a new look this year. This time rather than just houses and hotels, players can also build industrial buildings, railroads and sports stadiums, many in 3D versions in the center of the board.
This being a game, players can also put up bonus buildings that protect their properties or “hazard buildings” that lower the value of opponent’s properties. Not sure what the real world equivalent of those would be, maybe a night club.
Parker Brothers launched Monopoly during the Great Depression and it was a huge hit in those tough times. This year though, going bankrupt and losing property seems a little too close to home.
BusinessWeek editors Chris Palmeri, Prashant Gopal and Peter Coy chronicle the highs and lows of the housing and mortgage markets on their Hot Property blog. In print and online, the Hot Property team first wrote about the potential downside of lenders pushing riskier, "option ARM" mortgages and the rise in mortgage fraud back in 2005—well ahead of many other media outlets. In 2008, Hot Property bloggers finished #1 in a ranking of the world's top 100 "most powerful property people" by the British real estate website Global edge. Hot Property was named among the 25 most influential real estate blogs of 2007 by Inman News.