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Archive for June 13th, 2009

sontag glosses the girlfriend experience / nyc trustafarians

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From the journals, from the start of 1959:

The ugliness of New York. But I do like it here, even like Commentary. In NY sensuality completely turns into sexuality – no objects for the senses to respond to, no beautiful river, houses, people. Awful smells of the street, and dirt… Nothing except eating, if that, and the frenzy of the bed.

Except, of course, that TGE suggests that the last sentence should be reversed to read “Nothing except the frenzy of the bed, if that, and eating.” And I imagine she means real smells, the back-in-the-day real dirt, when the thing that stinks nowadays back in Gotham is something much more abstract. This sort of thing, for instance, the half-told story of the New New York and its Creative Industries.

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.

The concentration of people relying on family money in certain neighborhoods of New York – not just Williamsburg, though if you want to take a trip to see the ‘farians living in their native milieu, of course it is a good place to start – is extremely high. I don’t have figures, but there was a kind of standard deviation between job/salary and estimated cost of residence that make the state of play rather clear. When I sold my own apartment there, in 2005, I had four offers come in the first day it was shown. Three of the four were way, way over the asking price, and all three of those offers were formally made by family estates or by people who attached a very clarifying letter from their father’s broker in New Jersey.

It bears remembering that TGE incorporates a subtle and interesting reference to this situation. At one point, Chelsea explains that the reason she’s taken up the line of work that she has is because (and I paraphrase – don’t have time to find her exact words right now) she doesn’t or didn’t want to rely on her parents. The math’s not hard to do. Implicitly, the suggestion is that she could have relied on her parents, that they had the means to support her in the city. Her career as a high-end escort doesn’t originate in poverty, nor is it simply some sort of mindless / libidinalized cashgrab. Rather, if we’re all going to be on the anti-bburg-trust-fund bandwagon, and I’m sure we are and should be, Chelsea’s choice of a line of work represents a heroic refusal of exactly the sort of thing that the NYT article describes. Sure, she could have found something else to do, and lived elsewhere and otherwise… She’s like one of the “goodguys,” the recovering-fundees, who are meant to provide relief at the end of the trust fund article:

The culture of the area often mocks residents who depend on their families. Misha Calvert, 26, a writer who relied on her parents during her first year in the city, now has three roommates, works in freelance jobs and organizes parties to help keep her afloat while she writes plays and acts in films. There is a “giant stigma,” she said, for Williamsburg residents who are not financially independent.

“It takes the wind out of you if you’re not the independent, self-reliant artist you claim to be,” she said, “if you’re just daddy’s little girl.”

There’s a long, complicated, and in some senses counterintuitive story to be told about exactly what happened in New York from the mid-ninties onward. Giuliani (and his incredible good-fortune to be mayor during a prolonged bull market – nothing unbreaks the windows in NYC like a glut of finance sector bonuses), NYU, the coming of age of the progeny of a corporate managers of the post-Cold War surge of globalization and financialization, the inflation of a local real estate bubble that started well before the interest rates came down, and informalization of work in the wake of the rise of the unpaid internship, and the rise of what we might call hedged entrepreneurialism amongst the creative types. Lots more too, obviously…

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June 13, 2009 at 8:29 am