Comment by andix

Becoming homeless is probably not the right approach to think about that. Most people will somehow be able to continue a regular life.

They move to smaller houses or multiple families share a house. => landlords and real estate companies make less money. CEOs might not be able to upgrade ther yacht => more layoffs in the yachting industry

Parents, spouses or relatives will often chip in for rent and food. => less money spent on consumer goods and services. It's easy to cut cost for things like hairdresser, eating out, gardeners, smartphones. Instead of redoing the kitchen, the old one can be DIY fixed.

It's just a downward spiral in all parts of the economy. And in the end a lot of businesses have to cut their AI spending as a result.