Plumbing runs were an easy fix as the ceilings had already collapsed like yours, BUT digging through walls to pull out old split copper heat runs was not fun.Welcome to the unexpected !!

Inventory is extremely low right now and the price of homes in my area are going for 30k-40k over asking price, last time I seen it like this was back in the 2000's, just before the 2008 housing collapse.   

I’m sure we’ve all seen many videos of ceilings collapsing, pipes bursting, and flooded floors coming out of Texas.

The San Francisco Oakland Bay bridge collapsed! 

That said, I have a friend who bought a duplex closing 1 week before the 08/09 collapse.

Yes, this is absolutely an issue and legitimate economics although for those hoping for doomsday events I am sorry, this recipe does not end in collapse, it results in stagflation. 

Last time we saw this was in 2005 - 2007 until the market collapsed.

Who is responsible if an awning collapse on a parked vehicle of a tenant?

I'd demo similar to a pool demo, bust up the sides and bottom, collapse the debris in along with some clean granular fill and then cover with additional soil as needed.

Some older policies don’t have that collapse clause and it still takes an attorney and legal action to get them to respond.