That doesn’t work for those of us in states subject to judgement for any balance owed above and beyond the price fetched at auction. We’ll be hounded until it’s paid.
Well, when the state, county and city governments here all go belly up and the trash and garbage is no longer picked up, the water flows only sporadically, the sewers are all backed up and flowing into the streets, electrical and phone service failing, and gangs of looters are running free, the place will be pretty much uninhabitable. Think the ruins of Detroit writ large. Property values will fall to zero.