Not all jobs can be done from home so public transport and that include rail will always have a place and many housing development schemes require good transport links as a condition for approval.I am a car owner who has spent periods without a car - this is when one car dies and I don't rush to replace it for many months. One car was stolen and I went without for many years (bought a house instead !). I mainly use public transport within London - a car is not strictly necessary within London unless you have something large to shift or a lot of shopping. Covid made a private car more attractive as does the demise of our town centre shopping. Outside London my use has changed from mainly rail with some driving to mainly coach with some driving but more driving than before. I usually end up regretting the phases where I do not have a car. Gone are the trips by rail with enthusiast friends and are replaced by road. This started decades ago but the strikes mean we never consider rail now. Now, in our case, rail will get a look in once it is reliable but actually car is more convenient - we always used to try and use rail but it has been noticed how much more flexible the car is.
But all those people who have only just bought a car for the sole reason of continuing life without strike ridden rail are very likely going to keep their car for many years. So for many years rail will be competing against cars more than rail had been before. Covid also makes car seem safer. Some people will never consider rail again. Some will use rail for some journeys but not all. Some will revert to railway once their car has expired. Some (many ?) will buy another car as they have formed a habit. The thing about car ownership is that it is not something you pick up and put down on a day-to-day or even year-to-year basis. Owning a car is an investment, the owner will then continue to use that car as many of the costs are already incurred regardless of use (purchase, maintenance, road-tax and insurance). In fact I have learnt that lack of use of ones car is likely to cause unreliability. Worse still if someone has gone to the trouble of learning to drive they are even more committed to private transport than they ever were before.
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But with more working from home the benefit to the economy of the whole country is less.
It does seem a double whammy that following on from the railways losing a significant chunk of their revenue due to Covid any recovery is stalled by industrial action. Not sure there would ever be 100% recovery as working from home is far better in many ways (but with a few downsides). But as an ex commuter I know I do not want to rely on the railways. I got out of that by avoiding commuting so far.
The Tram and DLR in London have helped connect and regenerate areas which previously had little to no rail links so there is a benefit which has paid back its investment.