If you means test things, it can work better. If you're an artist or a retiree in san francisco, and then someone goes and invents the internet, prices will go way way up around you. If you don't want to force the artists and retirees to learn to code to keep up with housing catering to newcomers, something like prop 13 helps. But then if they do go and learn to code, taking advantage of the new skyrocketing job market, then they don't need prop 13 protections. Prices went up but their income kept pace, so they don't need the protections.

A lot of these kinds of issues seem to come back to lack of means testing or poorly implemented, non-holistic, perverse incentivizing means testing.