I don't think that's true. Prop 13 for example is priced into the market. Buyers bid higher because their taxes are frozen. This doesn't take decades to correct.
replyMarket reactions are instant. Once the policy is fixed we don't have to wait for a generation
Buyers bid higher because sellers are giving up their low property tax, not because the buyer will have a low property tax in a decade or two. Sellers are hesitant to sell because they are giving up a lot, California had to pass a special law just to let old people downsize without losing their low property tax on the big home they raised a family in.
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