Yes, if you actually want to stay in California, rising house prices only actually benefit you if you never want to buy a larger house - but the weird tax laws

Yes, if you actually want to stay in California, rising house prices only actually benefit you if you never want to buy a larger house - but the weird tax laws also disincentivize downsizing. If the smaller house costs more than your current house did when you bought it, you’ll see a significant property tax rise. I believe that, to counter this, There are some counties where if you move to a smaller house, you get to keep a tax rate akin to what it would’ve cost you at the time you purchased your old house!