If you believe this site economics are equivalent to reality and rich people losing money is the end of the world. I don't think you're going to convince them.
That's not what re-inflated prices. Basically, no houses were built from about 2007 to 2017, and then far too few houses were built. Meanwhile, loads of people immigrated to Ireland for jobs (mostly in tech and finance).
Then, because lots of people spotted that Irish property was a good investment, people started piling in using rents as their baseline for investment, driving rents up, which pushed prices up etc.
But fundamentally property prices are increasing in Ireland because of population growth and a lack of supply (driven by poor planning for water and services, along with a culture of property owners objecting to the opening of an envelope).
Quite the opposite; the state should instead have borrowed 105% GDP and kept the construction industry on life support (during the financial crisis many countries did this, generally with public works stuff, but Ireland essentially let its construction industry die). As is, almost no housing was built between about 2010 and 2016, resulting in a massive shortage.
The extremely high cost of the Irish bank bailout was largely down to bad bank practices and not merely the fact that there was a property bubble.
The noughties Irish property crisis was largely driven by a speculative bubble, and there was not really a huge supply shortfall. Unfortunately, he _current_ one is supply-side. In 2023 Ireland built more housing per capita than any other OECD nation and it was close to the top last year, but, even optimistically, that is only stopping the shortfall from getting _worse_.
(A lot of this is down to catastrophically bad estimates made early last decade, which had Ireland returning to its traditional economic pattern of perma-recession, and draining the working age population off via emigration.)
https://en.wikipedia.org/wiki/Irish_property_bubble