the hipsters and wannabes flocked to williamsburg 5+ years ago. they followed the artsy, cool, experimental crowd. The only reasons they were there in the first place was because rent was cheap and it was close to manhattan. Well, willliamsburg before that was full of factories, construction, warehouses. There is an extreme amount of pollution in the streets, and even still the trucks that go through there destroy the air/ground. It really is a naturally terrible place to live.
so the biggest reason people are living there now is that they are chasing the people they think are cool. what do you know? they are actually chasing them out with the prices.... Luckily for them, there are at least 4 or 5 huge million dollar apartment buildings being put up there. it's going to seriously mess up their real estate market. Now, all the people overpaying for crappy apartments will be paying a correct amount for a really nice place. and all those crappy places are going to remain crappy and lose all their value.
greenpoint is cool because of the eastern european population, but it isnt much better than williamsburg and the kids are spilling into there now. It was actually one of the 3 neighborhoods I was considering before I moved here (the other ft. greene).
I don't want to say too much to promote the area yet. I need the prices to stay low. in short, the infrastructure and population are the strong points. id like to get involved in getting more new neighbors - but not too many.