Yes, selectively. And partly BECAUSE everyone left. Industry guides report house-list direct mail response rates around 9% (versus ~1% for email to the same relationship), and recall rates near 75% for physical mail versus ~44% for the same message digitally. Emptier mailboxes mean less competition for attention.
Where it earns its cost: high-value local services (a $2,000+ job supports $1+ per piece), tight geographic targeting (the neighborhood around a job site), and existing-customer reactivation. Where it doesn't: cheap offers to cold lists, where the math rarely survives printing and postage.
Make it measurable or don't send it: a dedicated phone number, a QR code with UTM tags, or a named offer ('mention the blue postcard'). The same source-stamping discipline as every other channel.