IBOV 176,254 ▲ 0.29% IPSA 10,928 ▲ 0.16% IPC MEX 66,572 ▲ 0.91% MERVAL 3,225,978 ▼ 0.29% COLCAP 2,294.91 ▼ 0.55% BVL PERÚ 56,428.20 ▲ 1.23% USD/BRL5.07▼ 1.26% USD/MXN17.44▼ 0.54% USD/CLP926.25▼ 0.71% USD/COP3,247▼ 0.48% USD/PEN3.39▼ 0.60% USD/ARS1,470▼ 0.88% USD/UYU40.23▲ 0.99% USD/PYG6,039▲ 1.12% USD/BOB10.35▲ 6.04% USD/DOP58.25▲ 0.29% USD/CRC448.93▲ 1.31% USD/GTQ7.62▲ 2.07% USD/HNL26.73▲ 1.38% USD/NIO36.62▲ 0.63% USD/VES722.19▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD156.98▲ 0.25% USD/TTD6.75▲ 1.19% EUR/BRL5.79▼ 0.49% BRENT 85.05 ▲ 2.10% WTI 79.58 ▲ 1.84% IRON ORE 161.91 — — COPPER 6.36 ▲ 2.04% GOLD 4,053 ▲ 1.39% SILVER 58.88 ▲ 2.16% SOY 1,191 ▼ 0.96% CORN 459.50 ▲ 4.97% WHEAT 644.00 ▲ 2.71% COFFEE 327.00 ▼ 4.22% SUGAR 14.92 ▲ 1.15% ORANGE JUICE 140.90 ▼ 1.16% COTTON 81.68 ▲ 2.32% COCOA 5,936 ▲ 4.21% BEEF 231.58 ▼ 1.34% CATTLE 349.63 ▼ 1.33% LITHIUM 71.31 ▲ 1.52% PETR4 40.61 ▼ 0.12% VALE3 74.12 ▲ 1.74% ITUB4 43.40 ▼ 0.28% BBDC4 18.54 ▼ 1.23% ABEV3 15.83 — 0.00% BBAS3 20.48 ▲ 1.19% B3SA3 15.39 ▲ 1.79% WEGE3 44.56 ▲ 0.38% PRIO3 56.95 ▼ 0.44% SUZB3 41.38 ▼ 0.27% RENT3 40.28 ▲ 0.20% AZZA3 18.84 ▼ 1.98% CSAN3 3.87 ▼ 0.77% RAIZ4 0.31 ▼ 6.06% PCAR3 2.46 ▼ 5.02% GMAT3 3.99 ▲ 1.27% PSSA3 54.38 ▲ 0.63% CVCB3 1.36 ▲ 8.80% POSI3 3.94 ▼ 1.25% SLCE3 13.72 ▼ 1.08% NATU3 8.53 ▼ 0.81% BRKM5 6.66 ▼ 4.03% RANI3 8.03 ▲ 1.01% CSNA3 5.12 ▼ 2.29% CMIN3 5.07 ▼ 6.97% USIM5 8.26 ▼ 1.43% GGBR4 23.13 ▲ 1.36% ENEV3 26.86 ▼ 0.07% CPFE3 47.20 ▲ 0.77% CMIG4 11.14 ▲ 0.63% EQTL3 40.76 ▲ 1.37% LREN3 14.22 ▲ 0.49% VIVT3 35.52 ▲ 2.27% RAIL3 14.07 ▼ 0.28% KLABIN 17.45 ▼ 0.17% RAIA DROGASIL 18.45 ▲ 1.37% RDOR3 35.92 ▲ 1.01% HAPV3 10.91 ▲ 4.30% FLRY3 16.42 ▲ 1.67% SMTO3 16.11 ▼ 1.59% UGPA3 29.84 ▼ 3.52% VBBR3 33.04 ▲ 0.85% BBSE3 40.29 ▲ 0.02% BPAC11 57.81 ▲ 0.50% CURY3 32.90 ▼ 0.66% AERI3 2.07 ▼ 0.48% VIVARA 23.37 ▲ 1.13% COMPASS 25.24 ▲ 1.90% VAMOS 3.05 ▲ 0.99% SANB11 27.32 ▼ 0.18% ASAI3 8.64 ▼ 0.80% SBSP3 30.35 ▼ 0.07% WALMEX 49.43 ▼ 0.44% GMEXICO 201.02 ▲ 2.78% FEMSA 232.81 ▲ 3.31% CEMEX 22.09 ▲ 1.42% GFNORTE 186.00 ▲ 2.16% BIMBO 56.50 ▲ 1.13% TELEVISA 9.54 ▼ 0.73% AMX 22.87 ▲ 1.24% GAP 390.73 ▼ 4.28% ASUR 277.70 ▼ 0.34% OMA 235.14 ▲ 0.78% KOF 180.43 ▼ 0.69% GRUMA 281.06 ▼ 0.11% KIMBER 38.49 ▲ 0.71% SQM-B 67,466 ▲ 0.38% COPEC 6,131 ▲ 1.22% BSANTANDER 78.60 ▲ 0.51% FALABELLA 5,918 ▲ 0.23% ENELAM 84.93 ▲ 0.87% CENCOSUD 2,050 ▲ 0.49% CMPC 1,075 ▼ 0.32% BANCO CHILE 187.61 ▲ 1.41% LATAM AIR 24.73 ▼ 0.68% YPF 77,550 ▲ 0.49% GGAL 7,970 ▼ 1.36% PAMPA 5,205 ▼ 0.38% TXAR 662.50 ▼ 0.30% ALUAR 947.50 ▼ 1.76% TGS 9,670 ▲ 1.04% CEPU 2,313 ▼ 0.26% MIRGOR 16,700 ▼ 1.76% COME 45.24 ▲ 1.03% LOMA NEGRA 3,525 ▲ 0.79% BYMA 301.00 ▼ 2.35% TELECOM ARG 4,295 ▲ 1.06% ECOPETROL 16.03 ▲ 0.94% BANCOLOMBIA 81.62 ▲ 1.49% GRUPO AVAL 4.90 ▼ 0.20% CREDICORP 390.97 ▲ 0.45% SOUTHERN COPPER 181.02 ▲ 3.72% BUENAVENTURA 30.78 ▲ 3.22% MERCADOLIBRE 1,857 ▼ 0.57% NUBANK 13.89 ▲ 1.61% XP 16.71 ▲ 2.05% PAGSEGURO 9.16 ▼ 1.35% STONE 11.14 ▼ 0.13% GLOBANT 31.55 ▼ 1.77% TECNOGLASS 43.62 ▲ 1.82% GAP AIRPORT 225.11 ▼ 3.29% ASUR 277.70 ▼ 0.34% OMA AIRPORT 107.71 ▲ 1.49% AMX ADR 26.18 ▲ 0.58% FEMSA ADR 133.44 ▲ 3.43% CEMEX ADR 12.69 ▲ 1.89% PETROBRAS ADR 17.91 ▲ 0.17% VALE ADR 14.56 ▲ 2.68% ITAU ADR 8.54 ▲ 0.83% SANTANDER BR 5.39 ▲ 0.75% AMBEV ADR 3.10 ▲ 1.31% CSN 1.02 ▼ 1.46% GERDAU 4.58 ▲ 2.00% LATAM ADR 53.32 ▼ 0.02% BTC 64,523 ▲ 3.67% ETH 1,873 ▲ 5.62% SOL 77.20 ▲ 3.12% XRP 1.11 ▲ 4.13% BNB 579.57 ▲ 2.28% DOGE 0.07 ▲ 3.52% AVAX 6.65 ▲ 3.19% LINK 8.26 ▲ 4.92% DOT 0.85 ▲ 1.61% LTC 44.70 ▲ 2.79% BCH 236.59 ▲ 0.15% TRX 0.32 ▲ 0.29% XLM 0.18 ▲ 2.46% HBAR 0.07 ▼ 0.14% NEAR 2.03 ▲ 5.70% ATOM 1.56 ▲ 1.37% AAVE 98.82 ▲ 4.73% SELIC 14.25% EMBRAER 82.87 ▼ 0.17% EMBRAER ADR 65.30 ▲ 1.27% JBS 11.83 ▲ 0.21% JBS BDR 59.94 ▼ 1.11% MBRF3 16.11 ▲ 2.48% MBRFY 3.11 ▲ 1.97% INTER 5.64 ▼ 0.27% ADA 0.16 ▲ 3.61% EGX 52,299 ▼ 0.59% USD/ZAR16.38▼ 0.60% USD/NGN1,381▲ 0.07% NIKKEI 67,744 ▲ 0.74% CSI300 4,797 ▲ 2.15% HSI 24,341 ▲ 0.52% NIFTY 24,052 ▼ 0.66% KOSPI 6,857 ▲ 0.73% JCI 6,040 ▲ 0.03% USD/JPY162.22▼ 0.13% USD/CNY6.76▼ 0.26% DAX 25,147 ▲ 0.13% CAC 8,367 ▲ 0.03% FTSE 10,529 ▲ 0.30% MIB 52,863 ▲ 0.10% IBEX 19,357 ▲ 0.11% STOXX 642.10 ▲ 0.17% EUR/USD1.14▲ 0.37% GBP/USD1.34▼ 0.07% SPX 7,551 ▲ 0.48% DJI 52,478 ▼ 0.04% NDX 29,662 ▲ 1.36% RUT 2,967 ▲ 0.47% TSX 35,342 ▲ 0.25% VIX 16.36 ▼ 4.66% USD/CAD1.41▼ 0.60% US10Y 4.5790 ▼ 0.65% IBOV 176,254 ▲ 0.29% IPSA 10,928 ▲ 0.16% IPC MEX 66,572 ▲ 0.91% MERVAL 3,225,978 ▼ 0.29% COLCAP 2,294.91 ▼ 0.55% BVL PERÚ 56,428.20 ▲ 1.23% USD/BRL 5.07 ▼ 1.26% USD/MXN 17.44 ▼ 0.52% USD/CLP 926.25 ▼ 0.71% USD/COP 3,247 ▼ 0.48% USD/PEN 3.39 ▼ 0.60% USD/ARS 1,470 ▼ 0.88% USD/UYU 40.23 ▲ 0.99% USD/PYG 6,039 ▲ 1.12% USD/BOB 10.35 ▲ 6.04% USD/DOP 58.25 ▲ 0.29% USD/CRC 448.93 ▲ 1.31% USD/GTQ 7.62 ▲ 2.07% USD/HNL 26.73 ▲ 1.38% USD/NIO 36.62 ▲ 0.63% USD/VES 722.19 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 156.98 ▲ 0.25% USD/TTD 6.75 ▲ 1.19% EUR/BRL 5.79 ▼ 0.49% BRENT 85.05 ▲ 2.10% WTI 79.58 ▲ 1.84% IRON ORE 161.91 — — COPPER 6.36 ▲ 2.04% GOLD 4,053 ▲ 1.39% SILVER 58.88 ▲ 2.16% SOY 1,191 ▼ 0.96% CORN 459.50 ▲ 4.97% WHEAT 644.00 ▲ 2.71% COFFEE 327.00 ▼ 4.22% SUGAR 14.92 ▲ 1.15% ORANGE JUICE 140.90 ▼ 1.16% COTTON 81.68 ▲ 2.32% COCOA 5,936 ▲ 4.21% BEEF 231.58 ▼ 1.34% CATTLE 349.63 ▼ 1.33% LITHIUM 71.31 ▲ 1.52% PETR4 40.61 ▼ 0.12% VALE3 74.12 ▲ 1.74% ITUB4 43.40 ▼ 0.28% BBDC4 18.54 ▼ 1.23% ABEV3 15.83 — 0.00% BBAS3 20.48 ▲ 1.19% B3SA3 15.39 ▲ 1.79% WEGE3 44.56 ▲ 0.38% PRIO3 56.95 ▼ 0.44% SUZB3 41.38 ▼ 0.27% RENT3 40.28 ▲ 0.20% AZZA3 18.84 ▼ 1.98% CSAN3 3.87 ▼ 0.77% RAIZ4 0.31 ▼ 6.06% PCAR3 2.46 ▼ 5.02% GMAT3 3.99 ▲ 1.27% PSSA3 54.38 ▲ 0.63% CVCB3 1.36 ▲ 8.80% POSI3 3.94 ▼ 1.25% SLCE3 13.72 ▼ 1.08% NATU3 8.53 ▼ 0.81% BRKM5 6.66 ▼ 4.03% RANI3 8.03 ▲ 1.01% CSNA3 5.12 ▼ 2.29% CMIN3 5.07 ▼ 6.97% USIM5 8.26 ▼ 1.43% GGBR4 23.13 ▲ 1.36% ENEV3 26.86 ▼ 0.07% CPFE3 47.20 ▲ 0.77% CMIG4 11.14 ▲ 0.63% EQTL3 40.76 ▲ 1.37% LREN3 14.22 ▲ 0.49% VIVT3 35.52 ▲ 2.27% RAIL3 14.07 ▼ 0.28% KLABIN 17.45 ▼ 0.17% RAIA DROGASIL 18.45 ▲ 1.37% RDOR3 35.92 ▲ 1.01% HAPV3 10.91 ▲ 4.30% FLRY3 16.42 ▲ 1.67% SMTO3 16.11 ▼ 1.59% UGPA3 29.84 ▼ 3.52% VBBR3 33.04 ▲ 0.85% BBSE3 40.29 ▲ 0.02% BPAC11 57.81 ▲ 0.50% CURY3 32.90 ▼ 0.66% AERI3 2.07 ▼ 0.48% VIVARA 23.37 ▲ 1.13% COMPASS 25.24 ▲ 1.90% VAMOS 3.05 ▲ 0.99% SANB11 27.32 ▼ 0.18% ASAI3 8.64 ▼ 0.80% SBSP3 30.35 ▼ 0.07% WALMEX 49.43 ▼ 0.44% GMEXICO 201.02 ▲ 2.78% FEMSA 232.81 ▲ 3.31% CEMEX 22.09 ▲ 1.42% GFNORTE 186.00 ▲ 2.16% BIMBO 56.50 ▲ 1.13% TELEVISA 9.54 ▼ 0.73% AMX 22.87 ▲ 1.24% GAP 390.73 ▼ 4.28% ASUR 277.70 ▼ 0.34% OMA 235.14 ▲ 0.78% KOF 180.43 ▼ 0.69% GRUMA 281.06 ▼ 0.11% KIMBER 38.49 ▲ 0.71% SQM-B 67,466 ▲ 0.38% COPEC 6,131 ▲ 1.22% BSANTANDER 78.60 ▲ 0.51% FALABELLA 5,918 ▲ 0.23% ENELAM 84.93 ▲ 0.87% CENCOSUD 2,050 ▲ 0.49% CMPC 1,075 ▼ 0.32% BANCO CHILE 187.61 ▲ 1.41% LATAM AIR 24.73 ▼ 0.68% YPF 77,550 ▲ 0.49% GGAL 7,970 ▼ 1.36% PAMPA 5,205 ▼ 0.38% TXAR 662.50 ▼ 0.30% ALUAR 947.50 ▼ 1.76% TGS 9,670 ▲ 1.04% CEPU 2,313 ▼ 0.26% MIRGOR 16,700 ▼ 1.76% COME 45.24 ▲ 1.03% LOMA NEGRA 3,525 ▲ 0.79% BYMA 301.00 ▼ 2.35% TELECOM ARG 4,295 ▲ 1.06% ECOPETROL 16.03 ▲ 0.94% BANCOLOMBIA 81.62 ▲ 1.49% GRUPO AVAL 4.90 ▼ 0.20% CREDICORP 390.97 ▲ 0.45% SOUTHERN COPPER 181.02 ▲ 3.72% BUENAVENTURA 30.78 ▲ 3.22% MERCADOLIBRE 1,857 ▼ 0.57% NUBANK 13.89 ▲ 1.61% XP 16.71 ▲ 2.05% PAGSEGURO 9.16 ▼ 1.35% STONE 11.14 ▼ 0.13% GLOBANT 31.55 ▼ 1.77% TECNOGLASS 43.62 ▲ 1.82% GAP AIRPORT 225.11 ▼ 3.29% ASUR 277.70 ▼ 0.34% OMA AIRPORT 107.71 ▲ 1.49% AMX ADR 26.18 ▲ 0.58% FEMSA ADR 133.44 ▲ 3.43% CEMEX ADR 12.69 ▲ 1.89% PETROBRAS ADR 17.91 ▲ 0.17% VALE ADR 14.56 ▲ 2.68% ITAU ADR 8.54 ▲ 0.83% SANTANDER BR 5.39 ▲ 0.75% AMBEV ADR 3.10 ▲ 1.31% CSN 1.02 ▼ 1.46% GERDAU 4.58 ▲ 2.00% LATAM ADR 53.32 ▼ 0.02% BTC 64,523 ▲ 3.67% ETH 1,873 ▲ 5.62% SOL 77.20 ▲ 3.12% XRP 1.11 ▲ 4.13% BNB 579.57 ▲ 2.28% DOGE 0.07 ▲ 3.52% AVAX 6.65 ▲ 3.19% LINK 8.26 ▲ 4.92% DOT 0.85 ▲ 1.61% LTC 44.70 ▲ 2.79% BCH 236.59 ▲ 0.15% TRX 0.32 ▲ 0.29% XLM 0.18 ▲ 2.46% HBAR 0.07 ▼ 0.14% NEAR 2.03 ▲ 5.70% ATOM 1.56 ▲ 1.37% AAVE 98.82 ▲ 4.73% SELIC 14.25% EMBRAER 82.87 ▼ 0.17% EMBRAER ADR 65.30 ▲ 1.27% JBS 11.83 ▲ 0.21% JBS BDR 59.94 ▼ 1.11% MBRF3 16.11 ▲ 2.48% MBRFY 3.11 ▲ 1.97% INTER 5.64 ▼ 0.27% ADA 0.16 ▲ 3.61% EGX 52,299 ▼ 0.59% USD/ZAR 16.37 ▼ 0.52% USD/NGN 1,381 ▲ 0.20% NIKKEI 67,744 ▲ 0.74% CSI300 4,797 ▲ 2.15% HSI 24,341 ▲ 0.52% NIFTY 24,052 ▼ 0.66% KOSPI 6,857 ▲ 0.73% JCI 6,040 ▲ 0.03% USD/JPY 162.21 ▼ 0.14% USD/CNY 6.7595 ▼ 0.17% DAX 25,147 ▲ 0.13% CAC 8,367 ▲ 0.03% FTSE 10,529 ▲ 0.30% MIB 52,863 ▲ 0.10% IBEX 19,357 ▲ 0.11% STOXX 642.10 ▲ 0.17% EUR/USD 1.1426 ▲ 0.34% GBP/USD 1.3382 ▲ 0.25% SPX 7,551 ▲ 0.48% DJI 52,478 ▼ 0.04% NDX 29,662 ▲ 1.36% RUT 2,967 ▲ 0.47% TSX 35,342 ▲ 0.25% VIX 16.36 ▼ 4.66% USD/CAD 1.4068 ▼ 0.60% US10Y 4.5790 ▼ 0.65%
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Tuesday, July 14, 2026

Opinion: The Curmudgeon on Housing

By · April 15, 2014 · 3 min read

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Opinion, by Michael Royster

RIO DE JANEIRO, BRAZIL – The “Telerj Favela” has now come and gone. Rising in early April in the leafy grounds surrounding an abandoned building in Engenho Novo (a neighborhood in Rio’s near north side) the hydra-headed monster threw out hundreds of tentacles, enticing some 5,000 souls to abandon their dwellings in hillside slums and flee to refuge there.

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Michael Royster, aka The Curmudgeon.
Michael Royster, aka The Curmudgeon.
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Telerj, for those not familiar with Rio’s history, is the former name of the telephone company now monosyllabically known as “Oi”. Telerj was a state-owned company, part of the vast Embratel empire before privatization, notorious for treating subscribers with disdain.

The building and grounds abandoned by Telerj were eventually agreed to be sold to the City of Rio. Supposedly, the site was to be used to create public housing. But nothing happened. The building just stood there falling apart. Oi says the city never paid, the Mayor says it never paid because Oi was greedy.

Nature abhors a vacuum and so do favela dwellers. As if by magic, there appeared dozens of “workmen” who started divvying up the ground into plots, marking infinitesimal areas as living quarters, throwing up makeshift walls. Needless to say there was no water and no electricity.

Withal, the people came—in droves, swarms, hordes! In the space of five days, some 5,000 people (!) occupied all the structures thrown up on the grounds. When Brazil’s biggest broadcaster began to publicize the “invasion”, the outcry was general. Oi went to court, supported by the City, and got an order to throw the people out.

So at 5AM one morning, in came 1,500 police. That’s right, 1,500 police for 5,000 invaders. They gave most people time (not very much) to gather their belongings and scram! The usual suspects turned up to throw rocks and other things at the police, the usual protesters protested, and some of the newly displaced occupants talked to reporters.

From what we read, most of them were NOT homeless; they had been living with family in favelas, because they couldn’t afford to pay rent elsewhere. They wanted to register with the government’s housing programs, but had allegedly been turned away. The city said only two hundred of them had tried to register, there weren’t any more places, so they should just get in line for the next offering.

The Curmudgeon has a few questions. How do you build “dwellings” for 5,000 people in five days — who finances the construction? How do people know these “dwellings” exist — through Facebook? How do they earn the right to occupy these “dwellings” — by paying someone?

But here’s the big question: why on earth would anyone want to leave a family home, no matter how crowded, to become a squatter on a minuscule flat square with nothing at all but bare earth? No water, no electric light, no paving, no nothing — abject squalor should mean no squatters.

The squatters are victims of someone. No one leaves a residence for something worse. So, who orchestrated the mass exodus? What did they promise people? And, finally, why aren’t they in jail?


Michael Royster, aka THE CURMUDGEON first saw Rio forty-plus years ago, fetched up on these shores exactly 36 years ago, still loves it, notwithstanding being a charter member of the most persecuted minority in (North) America today, the WASPs (google it!)(get over it!)

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