Yes but now think of all that discretionary income you now have for something else. All that money that would have been spent on sports, concerts, etc. Overall

Yes but now think of all that discretionary income you now have for something else. All that money that would have been spent on sports, concerts, etc. Overall bad for economy yes, but some people may gain providing other outlets for that money. Plus higher discretionary income renters will have if rents dip.