Disasters Destroyed Their Homes. Then the Real Estate 'Vultures' Swooped In. - Non Profit News | Nonprofit Quarterly
Briefly

Disasters Destroyed Their Homes. Then the Real Estate 'Vultures' Swooped In. - Non Profit News | Nonprofit Quarterly
"When a mile-wide tornado hit St. Louis on May 16, DeAmon White hopped in his car and rushed home. As he navigated downed trees and power lines, turning his 10-minute commute into a three-hour slog, he worried whether his family, neighbors, and home made it through unscathed. When he turned the corner onto his block, White's heart sank. The entire back wall of his house had been blown off. Chunks of ceiling plaster littered the floor, windows were shattered, and much of his property was damaged beyond repair."
"They're "vultures," Bobbie and DeAmon both called the speculators. Some walked down the street with flyers, some texted, and some called. In White's West End neighborhood, an estimated 63 percent of renters and 49 percent of homeowners are uninsured. For many North St. Louis residents, their homes are their only major asset, meaning they don't have the cash on hand necessary to rebuild without insurance."
A mile-wide EF-3 tornado struck St. Louis on May 16 as part of a 48-hour outbreak that produced about 60 tornadoes across multiple states, killing at least 26 people and injuring 168. The storm tore off walls and floors, shattered windows, and left severe damage in North St. Louis neighborhoods. Residents faced injuries, looting threats, and displacement; one man slept in his truck and neighbors guarded properties. Predatory buyers began calling residents the next morning with aggressive cash offers. High uninsured rates and limited savings make quick sales tempting when federal aid and insurance payouts are slow.
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