“Famed for its concentration of heavily subsidized 20-something residents — also nicknamed trust-funders or trustafarians — Williamsburg is showing signs of trouble. Parents whose money helped fuel one of the city’s most radical gentrifications in recent years have stopped buying their children new luxury condos, subsidizing rents and providing cash to spend at Bedford Avenue’s boutiques and coffee houses.” [NY Times]
Interesting read. I really had no idea that 26 year old adults had their parents paying for their apartments. As someone who has had a job since the age of 15, I find this quite shocking! I guess that is the price you (or your parents) pay to live in such a “hip” neighborhood full of “artists” and youth culture. Sometimes it is hard not to puke when walking around Williamsburg.