I don't think it's about housing in the metro and inner metro, I think it's about commercial real estate and businesses in the CBD areas and business parks.
People definitely want to live in the city areas still for the lifestyle, but not everyone can live there so most still commute. Commuting sucks, people don't want a commute.
But without commuting, the amount of business (and thus rent, thus tax income) that a CBD can support is much smaller.
Better public transport would help reducing the pain and cost of commuting, maybe that helps the CBD areas bring more people in.
People definitely want to live in the city areas still for the lifestyle, but not everyone can live there so most still commute. Commuting sucks, people don't want a commute.
But without commuting, the amount of business (and thus rent, thus tax income) that a CBD can support is much smaller.
Better public transport would help reducing the pain and cost of commuting, maybe that helps the CBD areas bring more people in.