Is the reluctance of banks to offload vacant REOs, creating a squatting crisis? (tenants, properties)

[58robbo]

imo, the banks have had ample opportunity to liquidate yet there are certain parts of the country where homes stand vacant in their thousands for sometimes years on end. at the same time the numbers of the homeless are rising exponentially. as far as i'm concerned banks have done little to address the problem and have essentially created an environment where squatting will become as socially acceptable as strategic defaulting.
now i'm all for free markets and property rights, but when the banks sidestep the market forces to liquidate, with taxpayer dollars (rigging the game in my books) i have to ask myself if what the 'squatters' are doing such a bad thing.

Murky law at center of property scuffle

from the article:
"Bybel maintains he's done nothing wrong and simply began a business that not only gave him an income but - more importantly, he says - helped clean up a community left in disarray by the economy."

"Admittedly, Bybel has said, he knew he was operating in a "gray area," but he thought it was worth it to clean up Pasco. In fact, he said he thinks he was saving the county one house at a time while giving his tenants affordable places to live.

"I'm trying to help here," Bybel said Thursday. "Nobody else has got a good idea. Maybe this is not the greatest idea, but it's an idea."

[Silverfall]

I'm glad he was arrested. You can't steal other people's property.

[manderly6]

This isn't squatting. Or at least not what I think squatting is. This guy is making money off of these properties by renting them out. Are there not enough rentals in that area at the moment?

It's not like this is a case where someone was forclosed on and decided to squat in the house.

[richb]

Two wrongs don't make a right.

Just because one dislikes what banks have been doing, doesn't mean stealing from them is the right thing to do. Its not a grey area at all. Its stealing. People do not have a right to a roof over their head.

OBTW I don't like that the government bailed out the banks either. Someday they will regret that they did so. Some banks actually didn't want the bailout, but the feds forced them to. Not good for all involved.

However stealing from unliked, unloved, big, faceless banks is socially acceptable what's stopping people from stealing from you. Nothing.

Just because a bank owned property is vacant, doesn't mean the bank isn't trying to sell it. It may be in the process of selling, and if someone squats in it, ruins that sale. Some "help". This guy is a scam artist taking advantage of a bad situation, pure and simple.

I guess property rights are declining in the U.S. when people think they can do things like this and operate as long as he did.