From the NY Times:
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.
It can be hard to see the signs of financial troubles in Williamsburg because residents are so loath to show that they had money in the first place. Robert Lanham, author of “The Hipster Handbook,” said in an interview that many newer residents tried to blend in with the area’s gritty history and dressed “half the time like they’re homeless people.”
But parental help was obvious in the intersection of residents with low-paying jobs and $3,000-a-month apartments.
“You can put two and two together, that they have money coming in from somewhere else,” Mr. Lanham said.