They are referring to long time California residents taking advantage of Prop 13. Presumably, long time residents vote against "change", which would include co

They are referring to long time California residents taking advantage of Prop 13. Presumably, long time residents vote against "change", which would include construction of new homes. Now imagine a lifetime of such voting. This would lead to a long-term undersupply of housing. Leading to higher housing prices. edit: added more