Working at home has taught businesses that they do not need to accumulate employees in office complexes. Working at home saves money for businesses and employees. With profits and raises harder to come by, dispensing with office complexes and commutes is cost effective.
High income people who no longer need to work in office complexes do not need expensive Manhattan brownstones and apartments. They can escape to Mystic Connecticut — https://www.bloomberg.com/news/articles/2020-08-07/as-new-yorkers-flee-once-humble-seaside-town-sees-bidding-wars?cmpid=BBD080720_BIZ&utm_medium=email&utm_source=newsletter&utm_term=200807&utm_campaign=bloombergdaily&sref=Y1NA6MHq — or somewhere else.
On top of the depression of Manhattan office and apartment prices from the emerging work-at-home culture, we have the assault on NYC residents from the breakdown of law and order and the Democrat mayor's decimation of the police budget in order to pay NYC hotels for housing the homeless, drug addicts, and child abusers in upper income West Side Manhattan — https://www.dailymail.co.uk/news/article-8603433/Upper-West-residents-fury-homeless-junkies-sex-offenders-moved-luxury-hotels.html .