Dose of Reality for Trust Fund Kids
Reality (along with a little schadenfreude) has come to the post-college rental market in Williamsburg: According to an article in The Times this weekend, the twenty-somethings who’ve been able to rely on Mom and Dad when the first of the month rolled around are finding that they have to come up with the rent the…
Reality (along with a little schadenfreude) has come to the post-college rental market in Williamsburg: According to an article in The Times this weekend, the twenty-somethings who’ve been able to rely on Mom and Dad when the first of the month rolled around are finding that they have to come up with the rent the old-fashioned way now that the older generation is struggling more under the weight of the financial crisis. And while having less time to play in a band or work on a canvas may not be music to the ears of those used to being on the receiving end of parental largesse, some who watched jealously without help can’t help but take some pleasure in their neighbors’ misfortune. If I’m going to be completely honest, it does make me feel a little bit better, said one struggling wallpaper designer. It’s bringing a lot of Williamsburg back to reality.
Parents Pulling the Plugs on Williamsburg Trust-Funders [NY Times]
Photo by Ando228
Hah, yeah, ditto, you don’t say…
Regarding the bus, there’s nothing like being on crutches for a few months to make you realize how important a transportation option with no stairs can be. I never really paid attention to the color of the people around me, but I have noticed buses are a haven for the elderly, the disabled, and anyone traveling with kids. I wish they’d solve the stroller/bus issue though. It’s kind of insane.
My father always was, and still is, well-off.
His father was well-off too.
I have never gotten a dime from him.
He is a cheapskate when it comes to his kids. Just last weekend he was railing on and on about someone who spent a lot on a their kids who didn’t deserve it blah-blah. One thing my old man hates is giving the kids any money. He’ll probably die in debt, like Thomas Jefferson recommended.
I won’t spend a lot on the funeral. Fair’s fair.
I tend to spend too much on my kids.
Its only the idle rich/trustafarians who have time for ennui.
I grew up upper middle class and took a bit of time to, “ahem,” find my way. My parents supplemented my income til I was 29. A good portion of that time I was in school, but not the whole time. However, they didnt provide huge amounts so I was motivated to learn to live cheaply and eventually figure things out on my own. (Lunch at Uncle Moe’s was $5.24 including a drink). I eventually took a job that paid $35k but gave me a chance to learn in order to make more later.
There are kids whose families provide a much higher standard of living. For them, they have no economic incentive to succeed. Part of that is why they gravitate towards the arts, which are much more appealing than traditional white collar jobs. Without the children of the wealthy, who would produce our movies, write our books regarding the ennui of modern life, or make our purses from jeans bought at the Salvation Army?
Of course, most of them don’t have any real talent, which is why it’s so important they have mommy and daddy to fall back on.
Agree, sam. If you’re not in a rush buses are good. When I go to South Slope or Greenwood Heights I either have to walk or take the R; the 65 or 67 may or may not happen by but I don’t want to wait.
Actually sam, I find the buses on the weekends are typically much more reliable than the subways, which are extremely unpredictable due to service disruptions. As for diversity, when I take the B41 bus from Cadman Plaza to Park Slope and beyond, I’m almost always the only white person on board in either direction, even when the bus gets packed. That’s just the facts. I much prefer taking that bus than the subway on the weekends.
The minute I buy a house, I’m buying that woman’s wallpaper for the dining room.
NYC is full of kids supported by their parents, also home to a lot of 30-year-olds who get down payment help from their parents. Not really sure how much this has changed due to the downturn.
BF says parking is easier in Williamsburg since December, but this could just mean more people have lost their jobs and/or are riding their bikes, so not as many cars around the Bedford stop.
Heather, your comment about condos cracked me up.
After the dot com bust in SF, the white hipster graphic artists who had very suddenly moved into the Western Addition very suddenly moved out again. It was very noticeable. They lost their jobs and went back to Ohio.
Willilamsburg, on the other hand, is more crowded than ever — with all kinds of people — as is Bushwick (with the hipster types). Bushwick was absolutely packed this weekend with people going to Open Studios.
“why begrudge them a few years of pursuing their dreams? sour grapes…”
Parents should help put their kids through college. Kids should work to achieve their own dreams. Even if they don’t have to work, they should learn what work is like. See my above comment.