London commercial property collapsing as companies realise staff can work from home. Tech was always going to make this happen but Covid has pushed it forward.

Companies save on rent. Staff save on transport costs & have more free time. No incentive to return to old normal.

Now, workers have more cash money, but are afraid to go to shops, or don't want to wear masks, so they shop online. This is cheaper, no travelling etc. Prices of consumed goods will fall.

While largest firms flourish, smaller businesses unable to operate online will fail.

How will the economy react to this?

Wage deflation? Very possibly over the coming years wages will fall as workers are happy to accept lower pay to work from home.

Rents and house price inflation? Certain. More disposable income & desire to live in fast internet rural locations

Central banks only have one tool, and that is to cut rates & print money. What will stop this?

Inflation? Real inflation that the central banks can not disguise? Only collapse in production will cause this. Since the toilet roll shortages there has been no sign of this.

Net net, the one certain impact from this, assuming cpi inflation does not strike, is massive rental & property price inflation. Construction is falling, mon pol is super easy, demand for quality home/work life is many times higher than pre corona.

Land prices will capture all the economic surplus that furloughed workers are currently enjoying. As day turns to night & gravity pulls apples from the trees, the largest transfer of wealth in history from young to old, landless to land owners, poor to rich, will accelerate.

If you do not own land, large cap stocks that can access central bankster printed money, and crypto/assets such as gold, you are going to be on the wrong side of this economic mismanagement.

The political & social ramifications are not so obvious, but are very much scarier.