My intuition is that the city will recover as the population gets vaccinated and the budget recovery will follow. In the mean time a little pressure relief on the rising rents of the past decade or two isn't a bad thing.
Increasing urbanization is a multi-century secular trend and isn't likely to suddenly get reversed by a small (in the grand scheme of things) set back like this.
I suspect most people convicted of a serious felony have already used their second and third chance.
Look at Hillary Clinton, she has burned several extra chances. When she is finally convicted it won't be for a first offense.
