This is such a good parable for so much that is happening in the US! New players just entering the game don't stand a chance. Because the people that got there first already own the whole game!
I think about this a lot when it comes to real estate. The boomers and above were able to afford commercial real estate and develop it. But by the time generation X and the millennials came around, commercial real estate was all purchased up and prohibitively expensive to get into. But we could afford residential real estate, and we bought that all up for cheap during the recession. Now generation Z is entering the market and they can't afford to own the building they live or work in, it was all purchased up long ago and is now too expensive to get into! They are left to rent, barely able to pass go with each round!
... the early ones bought vans and started living out of them, but now even van prices are sky high and towns pay cops to move them along, even on private property... and speaking of private property, a lot of city/common councils are passing anti-nuclear family ordinances that prohibit multi-generational, non-close relationship housing ordinances it’s becoming impossible to exist in any space that isn’t either an apartment or single-family home!
Nice parable Joe. Games have been used to teach economics for quite some time. Monopoly was predated by "The Landlord Game" which was used to teach how Land Value Tax works. As a game, it was almost impossible to "win"---that being the point. Monopoly became more popular simply because one can eviscerate the competition, but even then, they had to add UBI to keep the game entertaining.
Monopoly USA was written as a parable. For those who want to contemplate reality, the New York Times published an article just yesterday (9/16/23) with this title, "What Happens When Wall Street Buys Most of the Homes on Your Block?" The article by Ronda Kaysen and Ella Koeze highlights the corporate all-cash buyers who target starter homes and working-class neighborhoods by turning them into rentals. One quote from the article by a housing research coordinator at a nonprofit group said, "It's a thing of scale--they're reaching near monopoly in some places... They're shutting people out of the home-buying process."
This is such a good parable for so much that is happening in the US! New players just entering the game don't stand a chance. Because the people that got there first already own the whole game!
Thanks! The game has become very sophisticated.
I think about this a lot when it comes to real estate. The boomers and above were able to afford commercial real estate and develop it. But by the time generation X and the millennials came around, commercial real estate was all purchased up and prohibitively expensive to get into. But we could afford residential real estate, and we bought that all up for cheap during the recession. Now generation Z is entering the market and they can't afford to own the building they live or work in, it was all purchased up long ago and is now too expensive to get into! They are left to rent, barely able to pass go with each round!
... the early ones bought vans and started living out of them, but now even van prices are sky high and towns pay cops to move them along, even on private property... and speaking of private property, a lot of city/common councils are passing anti-nuclear family ordinances that prohibit multi-generational, non-close relationship housing ordinances it’s becoming impossible to exist in any space that isn’t either an apartment or single-family home!
Ouch! Vans prices reflecting substitution effects! Your comments are appreciated.
Nice parable Joe. Games have been used to teach economics for quite some time. Monopoly was predated by "The Landlord Game" which was used to teach how Land Value Tax works. As a game, it was almost impossible to "win"---that being the point. Monopoly became more popular simply because one can eviscerate the competition, but even then, they had to add UBI to keep the game entertaining.
Monopoly USA was written as a parable. For those who want to contemplate reality, the New York Times published an article just yesterday (9/16/23) with this title, "What Happens When Wall Street Buys Most of the Homes on Your Block?" The article by Ronda Kaysen and Ella Koeze highlights the corporate all-cash buyers who target starter homes and working-class neighborhoods by turning them into rentals. One quote from the article by a housing research coordinator at a nonprofit group said, "It's a thing of scale--they're reaching near monopoly in some places... They're shutting people out of the home-buying process."
Link: https://www.nytimes.com/interactive/2023/09/16/realestate/home-sales-north-carolina-wall-street.html