You lost me when you acted like property owners in California are poor and need protection. They have seen some of the greatest unearned wealth increases by sitting on their butts doing nothing in the past generations. Meanwhile, the low income renters are the ones actually needing “equity” in this situation

All property owners are afforded protection under the law, regardless of income and wealth status. Low income renters, by the very definition, have no equity in the situation. Someone would need to subsidize the equity you want them to have (no complaints with that, just find the voluntary party willing to pay for it).