Creating Hipsturbia in the Suburbs of New York - NYTimes.com
Jared Sperli stashed this in economics
A stately five-bedroom town house in Cobble Hill, which sold for $750,000 in 2000, was recently listed for nearly $2.9 million, according to public records. Prefer to rent? Even a two-bedroom duplex in Carroll Gardens with a garden for the little ones can run $5,500 a month. Patrick McNeil, 37, a painter from Greenpoint, encountered nothing but frustration on a recent Brooklyn house hunt. “We would be going out to open houses, and there would be 80 people going in, and they’d be asking $740,000, and it would suddenly go to $940,000 — all cash,” Mr. McNeil said. “And you’re still two blocks away from the sewer plant in Greenpoint. We just thought, ‘What are we doing?’ ” What they were doing, it turns out, was slowly rationalizing a move to the suburbs. It was not an easy process.
Sounds a lot like Silicon Valley, actually.