Commute time is a big thing here.
People who have a 2 hour (one way) commute from hell from their massive house are super happy about this situation (shocking, I know).
People who live in a small studio apartment 10 minutes from the office see it differently.
What I expect this to result in is employers increasingly forcing people to WFH (either outright, or by making the offices horribly unattractive through hot-desking, increased density, etc.), pushing the cost of an office onto employees.
Even if a company "generously" gives you a $1000 allowance, that barely covers what high quality office furniture would cost, and in exchange, you pay a lot of tiny things that don't seem to be worth mentioning individually but add up to a massive cost when you take them all together over years:
- the real estate
- HVAC
- utilities (increased water usage, electricity for the office equipment & HVAC)
- maintenance for all of that (money and time)
- cleaning (if your employer asked you to come in unpaid after hours to vacuum the office and scrub the office toilets, everyone would consider them crazy, and yet this is effectively what will happen with WFH)
Not to speak of all the amenities and perks employers often provide, like cafeterias (often subsidized or even free). And not only will you end up paying the businesses' business expenses, you'll often do so (at least in part) with your post-tax money, i.e. depending on your tax rate, each dollar spent may be equivalent to e.g. $1.6 in lost income.