Parents Pulling the Plugs on Williamsburg Trust-Funders – NYTimes.com

Yet another one for the insufferable NYT lifestyle story file. At least we’re in recession mode on the lifestyle stories. Am I feeling schadenfreude or stupid-freude?

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.

via Parents Pulling the Plugs on Williamsburg Trust-Funders – NYTimes.com.

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