Having moved to the bay area for work Prop 13 seems like a great injustice to newcomers. However, having learned about how prop 13 was originally sold I'm parti

Having moved to the bay area for work Prop 13 seems like a great injustice to newcomers. However, having learned about how prop 13 was originally sold I'm particularly curious why elderly fixed income people expect to stay in large very expensive homes throughout their retirement/death. I grew up in Toronto and once people's kids grew up and left the house they would often move into much smaller affordable condos. These had fewer stairs and much less maintenance. There wasn't the same need to retire/die in the house you raised your kids in, its a ton of maintenance for too much space anyways. Why do elderly folks on fixed income in CA want to keep their homes forever, is it because there are no smaller condos in the same neighborhood (development problem) or because they expect the property value to increase enough to warrant keeping the home. The later doesn't seem to apply in Toronto as home values in Toronto have skyrocketed...