&gt;Considering California has a pretty robust real estate market with properties changing hands often<p>Says who?<p>&gt;The biggest beneficiary of Prop 13 would be someone who bought his home in 1970s and never sold it since then. Does that describe a lot of the neighbors?<p>This describes huge chunks of many many neighborhoods. When I bought a house in 2010, &gt;75% of the homes on the market were the original owner from the 60s or 70s.