Skip to main content

Home Truths In These Recessionary Times...

We're getting back to basics in these recessionary times...

ANYONE WHO, like me, has only recently learned to appreciate the wonders of Lidl will not be surprised by Ulster Bank's recent revelation that spending took the biggest nosedive since 1983 in the first three quarters of this year and Irish consumers continue to spend cautiously in the run up to Christmas.

There was a time when the stark lighting, the anaemic decor (would a cheery sunburst yellow colour scheme be out of the question Mr Lidl?) and that curiously earthy smell once you hit the door (what is that?) was enough to have some of us running to the more sweet smelling Superquinn for cover. But our priorities are changing and we're discovering that rampant parsimony has its thrills.

The psyche of a nation, formed over 10 years of profligate spending, is under review and it's not just property we're holding back on, but household goods, which Ulster Bank attributes to the weakness in the housing market, clothing, footwear and even food. We're acquiring new learned behaviours. Instead of the old "see, want, buy", it's now more a case of "see, want, agonise, agonise again, only buy if it's needed and cheaper than everywhere else".

We haven't entirely shrugged off the behaviour of our recent past though. If you hit a Dublin shopping centre at the weekend, you'd never know we are in a recession. On a recent Sunday we went to Dundrum Town Centre and it was heaving with people. Admittedly few appeared to be weighed down with bags, so it begs the question that if retail sales are down, are people just wandering around shopping centres, soaking in the atmosphere without actually making many purchases?

I did spot quite a few Hamleys bags but you could put that down to a recession-proof universal law, ie if you want your day to go well, don't bring a child to a toy shop and try to leave without buying something. Our purchase was the cheapest thing in the shop, a Nemo-like bath toy for around €11. For anyone who is rediscovering their inner cheapskate, there are no end of bargains to be had as shops, companies and restaurants vie for custom in this difficult time. If you actually have the money to get a job done in the house, you will find tradesmen undercutting each other to get the job.

On the cusp of the recession we decided to have our lumpy back lawn relaid and even negotiated a price with a gardener. By the time he was ready to do it, we had some sobering financial news, and decided only to spend on necessary repair jobs, ie ones that would prevent the house falling down around us.

Up until recently we had a cleaner come in once a week to help us stem the chaos and dirt that accrues when you're full-time working parents with young children but now we've had to limit it to every third week. Although we're doing our best to keep a level of hygiene that won't attract the attention of social services, it's all starting to look a bit shabby around the edges. I've been looking into acquiring a staple gun to do a few quick fix upholstery jobs.

And it's not just our homes that are starting to lose their lustre, the recession is also taking the sheen off us as a nation. With twice weekly blow-dries gone by the wayside, I reckon I'm not the only one who has had the trauma of becoming re-acquainted with their real hair. I won't be buying a new LBD for the Christmas party but will be customising last year's one à la Gok Wan. And conversation has become more mundane as I feel compelled share my latest Lidl triumph: "Can you believe it, 39 cent for marrowfat peas?"

On a positive note we were nearly beside ourselves at the weekend when we went out for our now once monthly family lunch to the Old Boro in Swords and were offered a four-course lunch for €18.95. "Aren't the portions very generous," we kept on marvelling, while trying to do breakdowns of the cost of each course. If there's one upside to the current downturn it's that sometimes it's the simple things that make us happy.


Report by Edel Morgan - Irish Times.

Popular posts from this blog

The State is about to create another housing bubble...

The Irish economy is set to repeat its old mistake of excess mortgage-lending... The run-up to Christmas is always a good time for burying bad news and this year was no different. On the Friday before Christmas, Bank of Ireland announced it was going to have to put more money aside to absorb possible losses on Irish residential mortgages. Just how much more money was not very clear but it would appear to run into several hundred million euro. The statement was extremely technical and did not actually talk about losses or defaults. But the point is clear. The bank had already put aside some money to absorb losses that might occur as a result of people not being able to pay their mortgages. It now seems that more people than expected are going to default and the bank has had to put some extra money aside. It is as timely a reminder as you could hope for that the Irish banks are still broken and still fighting their way through a mountain of problem mortgages as a result of their rec

Ireland's Celtic Tiger Excesses...

'Bang twins' may never get to run a business again... POST-boom Ireland is awash with cautionary tales of Celtic Tiger excesses, as a rattle around the carcasses of fallen property developers and entrepreneurs will show. Few can compete with the so-called Bang twins for youth, glamour and tasteful extravagance. Simon and Christian Stokes, the 35-year-old identical twins behind Bang Cafe and exclusive private members club, Residence, saw their entire business go bust with debts of €9m, €3m of which is owed to the tax man. The debt may be in the ha'penny place compared with the eye-watering billions owed by some of their former customers. But their fall has been arguably steeper and more damning than some of the country's richest tycoons. Last week, further humiliation was heaped on them with revelations that even as their businesses were going under, the twins spent €146,000 of company money in 18 months on designer shopping sprees, five star holidays and sumptu

Top property sales 2016 – who bought and sold...

The year saw a shift from D4 to D6 while the country market slowed on the previous year... DUBLIN... Dublin 6 dominated top-end sales this year and, in particular, Dartry. Whereas in other years coastal south Co Dublin and Shrewsbury and Ailesbury Roads have dominated, Dublin 6 and the area around Temple Road have become hot property. Top of the list was the purchase in May of Alston at 19 Temple Road for a whopping €10.225 million when former Paddy Power boss Patrick Kennedy traded up from his home on nearby Palmerston Road. In a quiet off-market deal, the Victorian property, on one acre, was sold by barrister Vincent Foley and his wife, Helen, who have lived there since the late 1980s. Around the corner at 5 Temple Gardens, €6.5 million exchanged hands when the detached redbrick house on a third of an acre owned by the late barrister and former attorney general, Rory Brady, sold in another off-market deal. Not long after Subiaco at 1 Temple Gardens sold for €5.85 million shortly a