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 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

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