A Philadelphia-based property investor has created a game that he hopes will teach people in a fun way how NOT to get burned by the next bubble.
The game Monopoly was a product of the Great Depression. Now a new board game of real estate wheeling and dealing has grown out of the Great Recession. A Philadelphia-based property investor has created a game that he hopes will teach people in a fun way how NOT to get burned by the next bubble.
Joel Harden got the idea for “Mogul” while trying to explain to his son what exactly he does at work. But with a 30-page rulebook explaining refinancing, amortization and foreclosure, the game seems beyond the grasp of most 12-year-olds, and many homeowners of 2 years ago.
The game is not available in stores yet; the developer is marketing it on the Internet by word of mouth. Wharton School Real Estate student Deva Dawson is impressed that someone would try to boil the reality of real estate down to a board game.
Dawson: It’s a pretty complicated topic – to see it in a 2D board, it’s a feat to attempt this. He said you need to know percentage math – but after my brief review of rules I disagree. You need to know a little bit more.
Several people who played Mogul said they enjoyed the challenge, but the thick rulebook was a bit daunting.