Someone’s vulture is a savior to someone else.
If all the “vutures” were kept out too much of the property would never recover and values of the rest of the property would not recover as well.
If you don’t have good insurance, savings or borrowing power, do you just keep paying taxes on property you cannot afford to rebuild on? Or do you sell to some “vulture” that makes it possible for you to walk away with something?
In this case the Vultures are the ones who caused it.
Kind of like The Far Side cartoon, with the brick thrown through the window with a note attached: “Bricks Thrown Through Your Window? Call Al’s Glass!”
On another thread, someone said what’s likely to happen, is that people will just pocket the insurance money , and sell to developers, who will offer far more than the property was previously worth.
The idea there is that everyone has their price to sell to developers
Property taxes on the home you live in for 11 months a year, are a sin against all that is good. Property taxes on people who are part timers and businesses, have at em. May as well have property tax on all possessions. Jewelry, boats, condos, houses over 1,500 sq ft per couple, private jets, yachts, and alimony.