It's also a positive externality for businesses (and by extension workers) in the area and for people who own their own homes (home ownership has historically b

It's also a positive externality for businesses (and by extension workers) in the area and for people who own their own homes (home ownership has historically been the predominant long-term living arrangement in Ireland). Even for tenants, it's not as simple as you suggest; most renters would rather live in a gentrified area than a run-down, crime-ridden one (which is exactly why rents are higher). Arguably the only category of people who definitely lose out are long-term, low-income renters with no protections, but they are relatively rare in Ireland. Gentrification has its problems for sure but I know several people who grew up in formerly run-down areas that are now gentrified, and they would never want to go back to the way things were.