Ha, ha. That's what reverse mortgages are all about. People are becoming so destitute that they are selling their only remaining asset back to the bank to have a bit of remaining crumbs to live on. The banks, in turn, will flip that property to a developer for apartments or whatever.
Also, a lot of single family homes are in disrepair because people cannot afford major maintenance or even routine maintenance like painting. When they are sold, the cost of rehab is weighed against the cost of tearing them down and rebuilding at a higher density. The result of that equation is usually foreordained if zoning laws allow it, and local governments are more ready than ever before to change zoning laws.