There are many approaches to recession, says Isabel Morton

LISTENING TO various people in and around the property business, I've noticed that they are split into a number of distinct camps. There are those who admit that the economic downturn has already affected their lives, those who resolutely deny it, and those who completely ignore it.

Some people are blatantly open and honest, and will tell you in no uncertain terms precisely how the downturn is affecting their business, their bank balance and their lives.

"I'm up s***'s creek. I've had to let a few lads go. I've had two jobs cancelled. I'm now doing a small kitchen extension and I've nothing else lined up. We're all f***ed." (A small scale builder)

Some will tearfully recount their tale of woe and misery, as if they were the only person on earth to experience such misfortune.

"I've sold two cushions and one lamp over the last three days, and you are the first person to come through the door of my shop today." (The owner of an interior design shop at 2.30pm recently)

Others, with expressions of shocked disbelief, will whisper details of their circumstances, as if genuinely surprised to find themselves in such a predicament.

"We thought we were getting the best investment advice, from so-called professionals but, to be honest, we've lost a lot, right across the board. So much for spreading your eggs over a number of baskets, every one of our baskets resulted in rotten or broken eggs. I'll have to put off my retirement for at least a couple of years." (A country GP and small time property investor)

Many complain loudly of their losses and aggressively lay blame on the banks, the Government and the world in general.

"We're all paying for their mistakes. Every one of us is being punished for their immoral and unprofessional behaviour. They should all be shot. It's a disgrace. We'll all have to pack our bags and leave again." (An Irish electrician who emigrated to Australia in the mid 1990s and returned in 2005)

And a few will wallow in the fact that they had seen it all coming for ages, and are now delighted to remind the rest of us that their predictions were correct.

"I've been saying it for years. We've all been living way beyond our means. I wouldn't give my daughter the deposit she wanted in 2005 because house prices were exorbitant. My wife didn't speak to me for weeks, but I was right. I've been right all along." (A Dublin accountant)

Many are confused and concerned.

"Why should Irish tax-payers suffer to save the banks? The banks were never too fussed about saving us when we couldn't pay our mortgage." (A woman on a radio chat show)

A certain sector will look at you with feigned surprise and utterly deny any knowledge of what you are talking about.

"We're kept busy. Actually, we're run off our feet. To be honest, it's business as usual these days." (A tile and stone retailer)

(And perhaps he was not lying through his teeth. Building jobs which are nearing completion now were probably originally funded about 12 months ago, just before development loans became hard to get. Perhaps some businesses and trades, have yet to feel the pinch?)

Some try to laugh their way through the misery, in the hope that positive thinking will see them through the bad times.

"If you have nothing, you've nothing to lose. Sure you can't get trousers off a bare arse." (Elderly man commenting on the banking crisis to a queue in a post office)

Then, there are the positive thinkers who will always look on the bright side of life.

"Well, we've moved a lot of young people back home to their parents again. And, we also got a fair bit of business this summer, moving people out of their flooded homes, and we'll be moving them back again when their houses have dried out and been redecorated." (A furniture remover)

And even the odd wishful thinker. "Viewing figures were really quite good this week. I'm quietly optimistic," says an eager young estate agent.

And those who wish to ignore it all. "It's a truly unsavoury subject and should not be discussed by ladies, and certainly not at table. It's extremely bad form." (An elderly American woman, reprimanding her afternoon tea companions in the lobby of a Dublin hotel)

She may have a point but, whether we like it or not, one way or the other, the recession will touch us all.

To quote one of my father's favourite expressions: you can fool everyone else, but you can never fool yourself.

Time to accept it. And admit that it sucks.

By the way, has anyone noticed the number of "follow up" phone calls being made by businesses to anyone who expressed even a passing interest in their product or service?