If there are considerably less entertainment locations in cities, moving to the city could potentially become a lot less attractive, especially for young people. Combined with the current push for remote work by workers and companies alike this could push real estate prices way down.
Obviously the most valuable part of a city is its demographics. Especially young college educated people, and in really big metropolises, the ones with the hottest real estate markets, of single college educated people between 20-40.
To keep this focused, the day trading is mostly caused by returns. That's not saying much. It's pretty crazy how much the retail trader has been outer-performing some classes of professionals though, especially in the last quarter. [1] It isn't on like, having a sophisticated market thesis obviously.
It's just this huge, persistent, ugly refutation of the finance professional. Index investing was the vanguard not the main force; retail trading is the main force.
[1] https://www.barrons.com/articles/retail-traders-are-beating-...