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Macomb County, where I live, had their annual tax lien auction. Buyers drove for hours to get there. They held it at an amphitheater. Before the start of the auction, the auctioneer asked the fairly large crowd "Is there anyone who wants to buy all of these properties today?" One hand went up. I think it was fixed, all done in advance. I don't know how they came up with a price. 750 properties, mostly small 2 or 3 BR homes in an area with a lot of rentals. This guy put all of the houses on the market at once, which drove prices down at a time when all prices were already down 40 or 50%. He didn't empty the houses, they were full of trash. He made the buyers pay the transfer tax and title insurance. He offered very small commissions. Realtors like myself refused to show the houses. At least half of the houses were on the market for 2 years. He got many nuisance tickets for trash, overgrown lawns, odors and critters. I hope he lost his ass.