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Abstract
This essay poses the question, ‘What is wrong with gentrification?’ I explore five harms that are associated with gentrification: residential displacement; exclusion; transformation of public, social and commercial space; polarization; and homogenization. Drawing on examples from Toronto, I consider whether these outcomes are associated with gentrification and if so, whether they are harmful. I conclude that there are good reasons to worry about the displacement of current residents, but less cause to be concerned about the exclusion of nonresidents. The desire to remain in a gentrifying neighborhood is one example of ‘the problem of expensive tastes’ and luck egalitarian theory provides reasons to accommodate this preference. The transformation of public/social space, polarization, and homogenization may be harmful or beneficial, depending on the composition of the city as a whole and the power dynamics involved in the transformations.