POKEMON GO MAY CAUSE REAL ESTATE INVESTORS TO LOSE EVERYTHING
ONE OF THE NEWEST AND FAR-REACHING POP CULTURE TRENDS TODAY IS POKEMON GO AND THE FERVENT FOLLOWING IT HAS INSPIRED. WHILE MOST PEOPLE CONSIDER IT A HARMLESS INDULGENCE OF NOSTALGIA, RECENT EVENTS HAVE SHOWN THAT POKEMON GO REAL ESTATE TROUBLES ARE A VERY REAL THING INVESTORS SHOULD BE AWARE OF NOW.
The smartphone app game takes advantage of augmented reality technology by allowing players to wander around collecting virtual creatures which they can then train and battle.
The game has already been embraced by countless players around the world, leading to a tremendous surge in its developer Nintendo’s stock (OTCMKT:NTDOY). The game’s adoption rate has already broken records and shows no sign of slowing down yet.
The game has also been shown to inspire incidents of mass frenzy such as in Central Park. A rare Pokemon was generated within the game’s version of the park itself, and players descended onto the park en masse to try and capture it.
As a result, traffic in Manhattan came to a stop as people abandoned their vehicles to join in the hunt. As incidents like this continue popping up, the natural question you may be asking is “how does this affect real estate?” The answer is simple – personal liability.
Given the game’s penchant for creating hubs around certain real estate landmarks such as parks and churches, properties located in the vicinities of such places are opened up to trouble. For example, one Massachusetts man purchased a home that was originally a church in the 1800’s.
After downloading the app, he learned that it was designated as a ‘gym’, meaning a hub where Pokemon can be ‘trained’ to fight. Soon after, young children and teenagers began camping out around his property with their smartphones at all hours of the day and night.
Imagine, for example, pulling out of your own driveway one weekend morning and, before you realize it, a teen darts across it hunting for a Pokemon nearby, and you accidentally hit the person.
Even though you were trying to be careful, an injury still happened, and you could be liable for it.
Cases of players getting into accidents because of being distracted by the game are becoming commonplace. Furthermore, the risk for unwitting players to be shot at by homeowners unaware of what is happening exists as well.
The combination of the game encouraging exploration coupled with a lack of awareness on the players’ part will lead to more accidents as Go’s popularity continues skyrocketing.
For investors, Pokemon Go real estate troubles provide a flashy but relevant example of why asset protection is important to have in today’s world. If you own a property and face a situation where a Pokemon Go player is injured on it, a resulting lawsuit could quickly snatch away everything you’ve worked hard to attain over nothing more than a game.
Anderson’s team though is always prepared to help real estate investors protect their assets from any potential threat, whether it comes from natural or augmented reality.
We can set up entities able to provide reliable asset protection to your properties and other goods that you do not want to be seized because of someone getting themselves hurt on your property by hunting down an imaginary creature. Avoid all potential Pokemon Go real estate troubles for good.
Source: In Asset Protection, Real Estate by Anderson Advisors 20
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