Vice TV has put together a little show about Brooklyn, more specifically Williamsburg. The first part (of six) is below, and pretty much states what we all already know: people moved from Manhattan to Williamsburg and now it's expensive.
However, an interesting point is brought up in the last two minutes (which hopefully continues on through the next five episodes) - one that often gets overshadowed by people complaining about "hipsters". While at an open house for a condo, and being told about the $1.2M view which is mostly of an industrial landscape, Vice asks if anyone buying these "luxury" spaces are concerned about what this industrial view really means. The real estate agent seems a bit confused and focuses on the factory aesthetic being more of a draw, than anything else.
The real Williamsburg is then exposed as being akin to an open garbage can and "the most toxic place to live" - with not only oil seeping in to people's homes, but also being home to the city's only chemical and nuclear storage facility (and this guy is worried about a venue near his apartment?). According to the experts, the latter (Radiac) could kill us all at any moment. Hip and dangerous! To pull a quote from the show: "Every little girl's dream: Williamsburg!"