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by iaw
3053 days ago
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I don't have much personal sympathy for anyone involved in this story. From a principled standpoint however, this appears to be a violation of property rights. It is highly unlikely that 'normal' people would've been able to reverse the transaction the way these residents did which makes me root for the clearly predatory real estate schemers. There's no moral party here it's just a question of what type of society you want to live in. I'd rather have the laws apply uniformly regardless of wealth and political influence which led me to my decision. |
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But... I actually am a fan of the ability to reverse the transaction.
I'm absolutely sure that having people who are politically connected in the neighborhood was part of making that happen, and I'm just as sure that it would have been impossible for most people in the same situation.
But now that it has happened, people who lose their property via tax liens have something to point to in a last ditch effort to save their property. And given that these transactions are more dangerous today than they were yesterday, perhaps the prices that the auctions bring will be lower - meaning that maybe once in a while a regular joe will be able to pop in and get a deal.