Prop 13 has been argued (I&#x27;d say convincingly) to reduce liquidity:<p><a href="http:&#x2F;&#x2F;www.nber.org&#x2F;papers&#x2F;w11108" rel="nofollow">http:&#x2F;&#x2F;www.nber.org&#x2F;papers&#x2F;w11108</a><p>(Less churn - opposite of what you hypothesize)