I strongly suspect that had remote work remained a bigger trend post-COVID peak, you'd be seeing a lot less core urban residential demand (and all that would imply). After all, a lot of large US cities were seeing urban flight of both residents and companies in the late 1990s. When I graduated from grad school--other than NYC finance--pretty much none of my classmates went to live in a city or worked there. Urban living/working is hardly an immutable law of nature.