There is going to be a lot of pain but overall I think this is very good for the economy. Rents that went to landlords will be redirected to more productive purposes (or profit, which when distributed to shareholders will be reinvested).
Sure, there are lots of people who are getting issued a laptop from their employer but there are also a lot of people that don't.
When I was at work every day, I had my HVAC on a pretty drastic setback; no sense cooling an empty house. I guess it worked pretty well! Because this year I was home all summer and despite not wearing pants most of the time, it still took a fair bit of power to keep things not-sweaty.
For some people who've lived here a while and bought a house for cheap or have rent control, they're making money hand over fist.
But for the rest of us, a huge portion of our paychecks goes to landlords or paying a mortgage. It would be much more reasonable in almost any other US suburb and most US cities.