Prop 13 has distorted the market of residential, but, at this point, it's baked in. Individual residential housing will turn over--the owner will eventually di

Prop 13 has distorted the market of residential, but, at this point, it's baked in. Individual residential housing will turn over--the owner will eventually die. Where Prop 13 has been terrible is on commercial real estate. Most office complexes in Silicon Valley have dozens of sublease layers in order to avoid triggering a reassessment. Forcing those to unwind would be a gigantic boon. Unfortunately, those people have a LOT of money to throw around. The last time this popped up on a proposition, the commercial real estate owners spent a FORTUNE to defeat it.