1. Workers (that previously hadn't been remote) realizing that it has good parts and bad parts, that paying an extra 10%+ in rent/mortgage in order to get a proper home office can be the cost of working from home (and then the costs of utilities for a now non-empty home). That doesn't mean it's bad, just that it has pluses and minuses.
2. Companies realizing that people working from home _does_ have benefits, and it's _not_ just people sitting around in their PJs being unproductive.
Then I think we've gained something. It's not a backfire, so much as a better understanding that everything has tradeoffs.
I live in an apartment with three other people. It's fine when we're all coming in and out and spend all day at work.
But now that 3/4 of us are at home, and confined to our rooms it's getting annoying. There's no good public space, and none of us share any interests.
I live and work in a single room, and I wish so much I could move to somewhere with more space. If I were full time work from home there's no reason I'd need to live with other people. The only reason my rent is so high is because I live near a city which I have to do to work. I suspect this is true for other people as well, and if we saw a greater amount of full time remote people would spread out a little.
Where a one-bedroom is $4000, a two-bedroom is going to be $6500, not $4400.
Obviously a cheaper metro will have lower prices, but is the relative premium for an extra room also so dramatically lower?
Obviously many people have laid down roots in those extremely high cost of living areas at this point so just moving can be tough, but we need to spread out man, cause $4000 a month for a tin can just ain't a good life.
Otherwise though I'd generally agree. Rent is getting crazy in the US.
The question is, what are they going to do? There are two options... demand better tooling (I'm actually surprised about Microsoft Teams!) or go back to office and put up with everything related to a multi-hour commute - infection risk in public transport, gas/insurance costs, endless traffic jams, hours lost each day that can be spent with partner/s and children instead, or simply with sleep...
This one unfortunately (because, choice inertia)