A lot of proponents of home working seem to ignore one of the big reasons people may want to work in a centralised space (be it an office, co-working space, somewhere else..) - the interaction with other people.
I hate working at home - I get cabin fever, bored and lonely. I prefer being around other people and having that interaction (IM, video calls just aren't the same). I like a change of scenery during the day.
It's nice to have the option to work from home when necessary (e.g. to avoid having to take a sick day, wait in for a delivery etc) - but I'd hate to do it every day.
I don't doubt that the nature of offices will change (e.g. I find it hard to imagine that cubicle farms have much future), and that the number of people working remotely will increase, but I'd be very surprised if offices disappear completely.