Orange County :)  and Prop 13 is a Godsend. (www.hjta.org/propositions/proposition-13/)

Todays new prospective buyers who foot nearly the whole bill, were the homebuyers footing the whole bill 20 years ago, 30 years ago. Property tax percents were still based on values. 

Trust me, plenty are selling their homes there as always.  The retirees downsize and they relocate. Some remain in SoCal but just as many do not.

Prop 13 is still the reason large companies relocate there and move their employees with them-the employees can count on their property taxes being consistent. Unlike here in CO, where in a blink of an eye, it can jump 35% to 55% in one year. 

Prop 13 enables people to remain in their homes, as it it should be.

Property taxes can and do increase under Prop 13. But not like they do in CO and elsewhere! 
 
And finally potential homebuyers look at a locations property tax history. If it shows substantial jumps, they will look to the next area whenever they possibly can.