ShareThis Page
Home

At 75, Monopoly remains a popular way to play with money

Jason Cato
| Friday, Feb. 5, 2010

After three-quarters of a century, snapping up property and building houses and hotels remains popular with real-world investors looking to cash in like Monopoly's mustached mascot.

Monopoly, billed by game-maker Hasbro as the world's best-selling board game, celebrates its 75th anniversary tomorrow. Its combination of strategy, chance and money management is still as relevant today as a teaching tool as it was when Parker Brothers introduced the game in 1935, business and real estate experts said.

"Very frequently, people will become familiar within a certain area of the city, and they tend to buy multiple properties within a small geographic area," said Peter Sukernek, general manager and vice president of Howard Hanna's commercial real estate division. "Creating small monopolies by buying three properties next to each other is something investors do."

That holds true for properties in Shadyside, Squirrel Hill and Downtown as much as it does for make-believe plots of gold such as Park Place and Boardwalk, Sukernek said.

"You put up houses, eventually build a hotel and then charge more money," he said. "If you own adjoining pieces of property in a certain area, maybe, over time, it is more valuable for a bigger use."

Investing in real estate has similarities to Monopoly's "chance" cards, Sukernek said.

"In real estate there is chance involved. Crazy things happen," he said. "I guess chance is a part of life, and it's part of investing."

But outside an imaginary world where properties and buildings are bought with colored paper money, investing in actual real estate brings risks such as mortgages and volatile markets, said Cait Poynor, an assistant business professor at the University of Pittsburgh.

Rich Uncle Pennybags, whose name was changed in 1999 to Mr. Monopoly, doesn't have to worry about a housing boom going bust or widespread foreclosures. Even if he did, Forbes.com once listed his worth at $7.1 billion.

"Monopoly is very, very simplified," Poynor said.

In the game, buying expensive property and building posh developments nearly is a guaranteed success.

"In the real estate bubble world, we've learned that really isn't the case," Poynor said. "Real estate can be more of a gamble than a sure thing."

Property values and that of the dollar fluctuate, she said. Diversification of real estate holdings also might be better than monopolizing a block, she added.

"Monopoly doesn't really take into account that, in the real world, people make choices each step along the way," Poynor said. "The world was probably a little simpler 75 years ago, but the game of Monopoly has probably always been simplified."

Still, Poynor said, Monopoly has value as more than a mere game. It teaches children how money works, she said.

"It's still a good game for kids," she said. "It doesn't tell the whole story, but it helps."

Yinzeropoly

Allegheny County is well represented in Monopoly, although it is widely accepted that Atlantic City, N.J., provided the inspiration for Monopoly's street names.

Atlantic Avenue -- McKeesport, Brackenridge, Forest Hills, Glassport, Elizabeth Township

Baltic Avenue -- None

Boardwalk -- None, although there was The Boardwalk Entertainment Complex in the Strip District

Connecticut Avenue -- Clairton, Beechview, Dormont

Illinois Avenue -- Dormont/Mt. Lebanon, Braddock Hills

Indiana Avenue -- Glassport, Braddock Hills, McKeesport

Kentucky Avenue -- Shadyside, Swissvale, Monroeville, Harrison, Brackenridge, West Mifflin

Marvin Gardens -- None, although the phone directory lists a Marvin Gardner as residing in Vanderbilt, Fayette County

Mediterranean Avenue -- None, although there is Pitaland Mediterranean Bakery in Brookline

New York Avenue -- Ridgemont, Clairton, Port Vue, Turtle Creek

North Carolina Avenue -- None, although West Mifflin has both North and Carolina avenues.

Oriental Avenue -- None, though there is Oriental Kitchen in Bloomfield, Oriental Express in Oakland and O'Bannon Oriental Carpets in Lawrenceville

Pacific Avenue -- McKeesport, Glassport, Forest Hills, Harrison

Park Place -- Crafton, Indiana, Kennedy, Ross, Monroeville, Robinson; also a neighbor wedged between Point Breeze and Regent Square

Pennsylvania Avenue -- Ben Avon, Bridgeville, Coraopolis, Liberty, Oakmont, Wall, Pitcairn, West Mifflin, Braddock Hills, White Oak, Jefferson, Monroeville, Plum, Ross, Shaler, McKees Rocks, Clairton

St. Charles Place -- O'Hara

St. James Place -- Fox Chapel, Mt. Lebanon, Shadyside, Oakland, McCandless

States Avenue -- None, although there is a State Avenue in Coraopolis, Moon, Collier, Robinson

Tennessee Avenue -- Dormont, Glassport

Ventnor Avenue -- None

Vermont Avenue -- Mt. Lebanon, Glassport

Virginia Avenue -- Avalon, Glassport, Munhall, Oakmont, Turtle Creek, West Mifflin, Braddock Hills, Harrison, North Versailles, O'Hara, Aspinwall, Monroeville, Shaler

Note: This list is not comprehensive

Source: Tribune-Review research

Monopoly fast facts

• The three most-landed-on properties are Illinois Avenue, "GO" and the B&O Railroad

• Parker Brothers rejected the game when it was first presented to them in 1933, citing 52 fundamental playing flaws

• More than 5,120,000,000 little green houses have been "constructed" since the Monopoly was introduced in 1935

• More than 250 million game sets have been sold worldwide

• The game is published in 37 languages and sold in 103 countries

• The total amount of money in a standard Monopoly game is $15,140

• There are 22 properties that can be built upon

Source: Hasbro

A Pitt first

A group of students from the University of Pittsburgh are credited with playing in the first officially recognized Monopoly event in 1961.

The students, members of the Sigma Alpha Mu fraternity, ran out of money for the bank after four days of play. Considering they were playing by official rules, that state the bank never goes broke, they wired Parker Brothers and asked for more money.

Parker Brothers sent $1 million in Monopoly money by plane and had Brink's Armored Car Service to pick up the cash at the airport. The money was delivered to the fraternity, and the game went on.

Source: www.monopolycollector.com

Monopoly versions

There have been more than 100 Monopoly editions made, according to USAopoly, which has a licensing agreement with Hasbro to produce the games. Among editions with local ties:

• Monopoly Pittsburgh

• Pittopoly

• Steelers Super Bowl XL champions

• Steelers Super Bowl XLIII champions

TribLIVE commenting policy

You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.

We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.

While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.

We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers

We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.

We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.

We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.

We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.

click me