Probably, but the key issue is how levered WeWork is. It's the same really as taking out a mortgage you can barely pay. It only takes a short term shock to push you into default, and once foreclosed, it doesn't matter that you'll eventually recover because the losses will be locked in and you no longer participate in the recovery.

Employees are not universally going to just eat the costs of working from home (or from shared spaces) on behalf of their employers, though. If this becomes a more regular situation, employer subsidies for remote essentials will be expected features of jobs even more than they are now, i.e., not just perks.

The monthly bills for 100 remote workers is easily 10K -- their internet connections alone would probably hit that. A single person renting a desk at a co-working space is going to spend a few hundred a year.

And, to put it bluntly, there are going to be a lot of empty houses previously owned by elderly people.

Job loss etc is temporary and should even out in less than a year (uneducated guess).

But if 1% of the population dies, that's a permanent demand drop!