Jon no longer had the desire to wear the wishing panties, since that only applies to the person wearing them--and he wasn't wearing them at the moment. On the other hand, he may not have craved the panties, but he still wanted them back just to have the ability to make wishes.
Not only that, he was still female from the waist down. After all, he hadn't ever given the panties to anyone, which would end that. Rather, they were stolen.
Of course, he was only about to learn that they were stolen. Jon finished his shower and headed for his room with a towel around his waist. He realized that he didn't know if the bodily change caused by the panties changes reality or not--the other day he had changed back as soon as he gave the panties to Karyn, and he only changed to half female again just now. So Jon looked around his room for signs that reality had changed so he was half female all along... and realized the panties weren't there.
He stopped searching and immediately tried to find out who had taken him. The window was still closed and locked. Karyn wouldn't be here to visit at this time. So it was probably a family member. He went down the hall, having had a guess as to who might steal them, and opened one door.
In there was his brother Mikey. Except he was wearing the panties and crying.
Which at least answered one question: since he had remembered Mikey was Mikey, the panties did not change reality.
"Give those back!" he yelled.
"They did something..." said Mikey. "I just wanted to see what was special about them... I heard you say on the phone that there was something special about wearing them and then they did this.
"That means that you need to give them back to me," said Jon. "If you give them back you'll change back."
"But I want to keep wearing them."
"Don't be silly. They're girl's panties. You have to be a girl to wear them. Now give them back." Jon hoped Mikey would give them back. They did grant wishes, and even one wish from Mikey could be really dangerous.
Their mother, however, was fairly close by and hearing the fuss. she had approached. "What's all this about?" she said from down the hall.
"It's, er..." replied Jon. "It's Mikey. He's got, um, something of mine and I want it back."
"Do you, Mikey?" said Jon's mother.
"I just found it," said Mikey. "And it changed me into a girl! My you know what is gone and Jon says it turns you into a girl."
"Don't be silly," said their mother.
"But it's true!" he replied forcefully. "Magic may not have been real before but it's real now. Look at me down there," he said, glancing down towards the panties, which were awkwardly big on him. "I'm all bad between my legs."
"Take those off," she said. "They're not for boys and certainly not for children. Where did you get them anyway? They're not any underwear of mine."
"I took them from Jon. But now I'm a girl...."
She looked at Jon, and he turned away. Her face was very disappointed at the thought that her son really might be wearing panties. Could he really have some kind of secret life? He certainly wasn't acting like it was all a lie. "Jon...?"
"It's true," said Jon and let go of the towel, which dropped in a heap at his feat, revealing that he had turned into a girl from the waist down.
"Oh my god, what happened to you! We have to get you to a hospital..."
And Mikey. Those panties look funny on him. There's no bulge....
"Mom, please," he said. "There are things going on which you're going to misunderstand."
"How can I misunderstand that you've just had a terrible injury! Just look at that!" She pointed. "What happened to your..."
"I've been trying to tell you, Mom. I wasn't injured. Nothing is cut off. Do you notice there's no blood?"
"There is blood!"
"That's, er... well I didn't know how to put a tampon in right. Forget that, Mom. It's magic, real magic. Mikey was right about that. And if you don't give me that pair of panties back there's literally nothing I can do about it, either on me or Mikey. You don't want your sons to be girls forever, do you? I need that pair of magic panties."
"Jon, what are you talking about? Magic panties?"
"Please, Mom, trust me on this. If Mikey doesn't give me that pair of panties he's not changing back. I'm not saying this because it's a threat, I'm saying it because that's how they work." Jon knew that once Mikey gave back the panties Mikey would be a boy again, and as long as Jon got the panties he could wish that both Mikey and his mother forget the whole thing. Or at least wish that she's okay with Jon being this way. As long as they also didn't make any wishes, which should be fine unless Mikey had overheard too much or read the note....
His mother looked at Mikey and finally barked out a command. "Mikey, take off those panties this instant, and then...."