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Thats a part of it, but I think the biggest thing is they know that once work from home gets normalized, commercial real estate is going to tank and make what happened in 08 with subprime mortgages look quaint by comparison.
The big time real estate developers dont care about residential property, and more and more Space For Lease signs are showing up everywhere. If work from home becomes the norm they stand to lose a fortune and they will do anything in their power to prevent that.
In my opinion, it's not just commercial that's vulnerable. How may office workers are going to live in San Fransisco or New York if they don't have to?
I also believe there is some tax incentives for businesses getting butts in the seats at their brick and mortar workplaces too. Like on-site facility deductions and such.
Also cities provide tax incentives to corps to get bodies in downtown areas supporting the restaurants and shops
Oh im sure...empty office buildings slowly decomposing isnt a good look for an areas local economy.
If we weren't run by monied interests wed be offering tax incentives the other way to get more people off the road but that doesnt keep us all dependent on fossil fuels so that's right out the window.