A NY Times article from Sunday addresses another consequence of the apocalypse recession, this time in Williamsburg, Brooklyn: rich parents are cutting the rent money cord on their mooching, hipster children. One Williamsburg landlord is interviewed and says that Williamsburg young’ns are pretty much balking at the idea of – gasp – GETTING A JOB and earning their living:
Luis Illades, an owner of the Urban Rustic Market and Cafe on North 12th Street, said he had seen a steady number of applicants, in their late 20s, who had never held paid jobs: They were interns at a modeling agency, for example, or worked at a college radio station. In some cases, applicants have stormed out of the market after hearing the job requirements.
“They say, ‘You want me to work eight hours?’ ” Mr. Illades said. “There is a bubble bursting.”
Mortgage companies report that the number of apartment sales is down, the amount of apartment down payments coming from parents are substantially reduced, and potential buyers are no longer reporting income from parental investments. And it’s not just the landlords and freeloading tenants that are hurting. Williamsburg businesses are feeling the parental pinch, too.
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.
Boo-hoo! I honestly did a jig when I read this article, and in fact, just today I spent the majority of my shrink appointment airing my contempt for people who don’t fund their own lifestyles. Nothing, and I mean NOTHING, bothers me more that people who loaf off their families. I’m not just saying this because I’m jealous and wish I could have access to my parents’ money and credit cards. One of the most satisfying aspects of adult life is growing up and providing for oneself and make one’s own decisions. You can’t really be free from other people until you’re financially free, and while I of course would LOVE more money, I do not want it from my parents. I’m too old for that, and it would be too humiliating. I have no sympathy for these bedraggled Williamsburg hipsters who make an effort to look poor, but are really rich, who claim to be independent-type artists but are actually beholden to mom and dad. It’s pathetic, it’s sickening and it’s about time that they grew up and joined the working world.