Friday, 28 October 2011

EspoonKruunu Oy, Madness At Play ...

This article is to honor my barber. A nice single mother lady, always smiling and ready to put you in good mood.

As usual, we have a small chat of what is happening around the world she is in, made of customers of various background - the citizen of Finland.

Today, she cut my hair very well - she is a real professional and hard worker who do not speculate CDS or is short oil or wheat on the NYSE CBO stock market - a normal citizen from Finland.

She told me the following story. She had to move from the place she rents because EspooKruunu, a communal owned company ( of the republic of Finland) owner of the rivitalo (build in the 80's, 2 floor - 80 m2) , decided to renovate it. They also....

humm...also, kindly requested that the rent will be raised from 800 Eur to 1000 Eur. A 25% increase overnight.

Of course, a quarter or more of the renter of the same housing community decided to look somewhere else. To me, the action of the EspooKrunnu, deserve some attention, and the media should be a bit more critical of this kind of action.

In addition, to that State owned company playing with the rental market - you have also state pension fund heavily invested in real estate in rental market, easily setting the price to their wishes....

DISCLAIMER: All characters appearing in this work are NOT fictitious. Any resemblance to real persons, living or dead, is NOT coincidental. Believe me it is a true story.


Andrew said...

The madness is the unsustainable debt financed service economy where every one of us is getting a benefit one way or another via debt spending.

Somebody has to get less. Obviously it needs to be the other guy rather than me.

HousingFinland said...

Andrew, I agree...debt binge has sustained employment - make asset owner rich.

However, it really created a very unstable platform that each a crack was patched with a temporary solution consisting in increasing even further debt level which created more instability that was again patched with temporary fix based on debt...and the game go on.

I suppose they better find a better model otherwise, the institution behind them will find hard to justify their usefulness.

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