Can we really sustain all these repossessions?

I have been offered a property below market value. The current owner has defaulted on the mortgage, and was threatened with repossession. There are now many repossessions in effect. However, December is a really bad time to do this. The property market always slumps a little at this time. So, how will these building societies be able to sell these houses? To whom will they sell them? Who wants to engage with mortgages with interest rates being so high?
I had this conversation with a building society at length on Friday. They were going to evict the vendor on Monday. Fortunately, the judge showed some common sense. He said it was ludicrous as the vendor has found a buyer.
What a waste of everybody’s time and money. I can’t believe that particular building society. They operate in my birth town and there is every possibility that someone I know made this decision. I can’t believe that anyone with the same background as me can think so unclearly.