Remote work has loosened the tie between home and work. But the COVID premium people were able to enjoy by shifting central-city salaries to peripheral locations won't last. Prime age working folks shifted to low density because they needed more space for home offices. The 'gray wave' of retirees is also location independent. Remote work has been hard on offices, but it takes a while for companies to recognize the costs of peripheral locations and negotiate RTO terms. I'd also like to point out that even people who work remote still live in Manhattan, thanks to an unbeatable quality of urban amenities.
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