Yuppies and professionals. The hipsters can't even afford that area. Why do you think Williamsburg took off like it did? It's in close proximity and about 2/3rds the price (For now; the real estate market will eventually put an end to that, too).

The Chinese are getting priced out as well. At the 2010 census, the Chinese population below Canal Street dropped for the first time in fifty years. Hell, even the gays are getting priced out of the Village. They moved on up to Chelsea. And God knows that they're good at managing money (relax, that's a GOOD stereotype).