I think it depends on what you want

We moved out of the city and to a transit-oriented development in the burbs a couple years ago so we could take advantage of mass transit and walk to restaurants/bars but still be able to have a yard and a garage.

If you're looking to be close to cultural events (say opera/symphony/plays) and museums, there's not a lot of alternative than living in a city. You could still do transit though.

This is a matter of personal opinion but I wouldn't think of your choice as "investing" - where do you want to *live* your everyday? Sunday grocery runs become as important as the latest restaurant.

It always seems cities go through a cycle every 50 years or so with good and bad times. It's hard to say the outcome that increased work from home will have on large commercial regions, but I think things eventually balance out.