If working from home becomes permanent, will vacant offices solve housing crises?

[destroycreate]

This is something I have been thinking a lot about regarding the recent trends in corporate America. I am extremely worried for US cities, in particular (it doesn't seem like Europe/Asia has the same issue with remote work) with how they will cope with potentially much of corporate America working from home permanently. The company I work at for example, rid itself of its expensive Beverly Hills lease back in April and it doesn't appear we'll ever go back since our CEO likes that he's saving money.

More and more, it seems that the tech industry for example is going full throttle with this new "ideal", but what about the hundreds of thousands of small businesses and jobs that will be destroyed as a result? Think about one office skyscraper in SF or Manhattan, and how many nearby ecosystems depend on those commuters. All of the nearby tailors, dry cleaners, cafes, fast-casual eateries, etc. Pretty horrifying to think about.

That said, do you think if this indeed becomes our new way of life, that office spaces en masse would begin to be converted into living spaces/condos? That would potentially be an ideal solution for the major housing shortages in attractive cities, without the hassle of getting permits for new development, etc., particularly in NIMBY plagued environments...provided that people will want to still live in downtown or dense areas.