Fear (of Condos) and Self-Loathing in Williamsburg
What happens when you mix the snide aspects of hipster culture with the gleaming new developments that have popped up in Williamsburg, Greenpoint, and Fort Greene? Condo shame, says the Observer. The hipsters who once scoffed at new developments like The Edge or nV are now—ironically, perhaps—experiencing a desire to buy units in these buildings…
What happens when you mix the snide aspects of hipster culture with the gleaming new developments that have popped up in Williamsburg, Greenpoint, and Fort Greene? Condo shame, says the Observer. The hipsters who once scoffed at new developments like The Edge or nV are now—ironically, perhaps—experiencing a desire to buy units in these buildings (gasp!). In the current market, it’s the modern units that are suddenly in the price range of 20- and 30-something new buyers, while the common brownstone fantasy still costs over $1 million. The article chronicles several 20-somethings such as Kendall Turner, 23, who bought a $449,000 one-bedroom in the Ikon building on McCarren Park in Greenpoint, or Nicole Ferejohn, 27, who refused to give in to her condo urges and continues to rent. Those profiled in the article make excuses and apologies; they feel guilt for their un-Brooklyn-y purchases; but in the end, perhaps the point is that if you price it low enough, they will (begrudgingly) come.
Condo Shame [NY Observer]
my mom has been retired for 5 years and lives well(still does some PT work), but she defintely doesn’t have money to burn.
I needed to borrow some money a few months ago to get me over a difficult hump one month and it pained me to take even $500 from her and I am 34
I think it’s one thing if your parents can and do help you buy your first house, or a car but again if you are asking your parents to supplment your monthly income on a regular basis in your 30’s and 40’s (and even in your 20’s)it’s sorta sad
quetal – congrats! But somehow I think the people quoted in the article don’t have your common sense.
Dipster… TOTALLY agree with you. And I thoroughly resent *both* the parents and the children of those parents. The children are self-entitled douche bags and because they pay rent 3 or 4 times what their salary allows… I have to live in shit holes.
Fuck them and the horse they rode in on. 🙂
lol. i will NEVER get off my high horse about adults mooching off their parents. NEVER!
and yes i freely and readily admit im envious and jealous!
*rob*
“My point, which may seem strange, is that $170K or whatever isn’t actually enough to pay for a 2-bedroom condo, especially considering you can rent the same space for half the cash.”
That is entirely dependent on what kind of deal you get and how much cash you’re putting down.
dirty hipster nothing wrong with getting some help from the folks as long as yu are not 40 and still going to the well….
Heather! – right on!!
Quetal – congrats that you were able to save every penny you made to make a downpayment on a condo, but seriously did you live with your parents? Or maybe never bought an article of clothing or perhaps never went out to dinner?
I don’t understand why people get so uppity about parents helping out their kids, and why you all think this is exclusive to Williamsburg.
Have you taken a walk around Murray Hill lately or anywhere in Manhattan? Yeah, I’m sure the 23 year old girl in marketing who makes 20k a year can afford that 2800 dollar a month rental. But I guess a news article about the parents of transplants in Manhattan paying for their rent isn’t very interesting – so find 2 people, throw in the buzz words “hipster” “williamsburg” and “lesbian” and you have a bunch more page hits.
I would say the majority of young people in this city (myself excluded of course, I rule) are living beyond their means on mommy and daddy’s buck – yes even in your pretty tree lined neighborhood. so get off your high horse.
Quetal.. I hazard to guess that you ain’t the typical person buying a half-million dollar property at 27. I doubt, very much, that Nicole in the article worked as hard as you…