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Maybe not hipster, but vintage bicycles are becoming popular, mostly because I think people appreciate the way they were built. For example, my FI wants a touring bicycle, maybe from the 80s or older, because they have steel frames. Steel frame bicycles are much stronger. In my area, $200 or more is about average, and people can charge that high because there is only so many old bicycles.
I am assuming you are referring to a cruiser???
I got one last year for my birthday and honestly it is awesome. I even got the basket and bell to match. Whether it goes out of style or not it is a cute and fun way to get exercise while looking flashy (mine is mostly pink).
I think other than being cute the seat and handle bars was much more comfortable in my opinion. Try one out and see if you like it, regardless of it being a fad or not.
I got one from Walmart, I love it! $90. I bought an old school banana seat bike like 3 years ago and rode it all the time (I didn't care what people thought) I like comfy rides lol.
Here's my walmart cruiser!

@amariem25: It's been a "stupid hipster thing" for awhile now. Especially in my area. Portland Oregon is littered with vintage bike riding, horrible mustache growing, big fake glasses wearing, ironic t-shirt sporting, home haircut cutting hipsters. :)
the hipsters in sydney actually buy incredibly expensive frames, wheels and pedals (we're talking the whole bike can easily cost $2000-$2500), but keep them as fixies. Its the stupidest thing i've ever seen. You're going to spend a ridiculous amount of money on a bike that struggles to get up hills and that you break by pedaing backwards??? and same as tunacupcakes says they all have thready moustaches and dirty, dirty hair.
So to answer your questions here a vintage bike would be cute and quaint, but wouldn't be considered hipster and likely wouldn't be thought of as a fad. Go for it if you want one!
Ah the fixie. From an article in the Sydney Morning Herald recently,
"He fronts a band called Rage Against the Sewing Machine. He wears skinny jeans, gigantic black-rimmed glasses, a weedy moustache and a superior attitude"
@ScarletBegonia: I work in hipster central (Darlinghurst) and I swear, the next weedy hipster who I see puffing up Williams Street on a fixie is going to get a stick in the wheel. As a concept, I have no issue with the fixie, hell, I lived in Sweden! But really, in SYDNEY!?!
And also, do these hipsters have jobs?? They just seem to populate cafes, with their skinny legs and ironic hats, complaining about how tough art school has been lately. Yet mysteriously, they can afford to sit around drinking coffee all day, smoking rollies, buying designer puppies and tinkering with their fixies. Maybe I'm just bitter because I have to be at work and somehow they have worked how how to avoid it. Damn hipsters.
Exhibit A: The Hipster. He's probably only riding the train because his fixie has a flat tire.

Over here, the hipsters have moved on to 80s style racing frames with a fixed rear wheel and no brakes.
I have a Phantom I bought about five years ago. It's a modern replica, rather than a 1950s one, but it still has the look and feel of a classic cruiser - it even has streamers and a basket on the front. I tend not to ride it much because it's SOO heavy, it's not very agile at all and the riding position isn't really built for long days in the saddle, and it's definitely not built for climbing anything bigger than a speedbump.
That said, riding my battle cruiser always makes me smile!! I HAVE used it for a couple of charity rides of 65 and 100 miles, and whilst not too painful, because I was riding it every day, they were VERY VERY slow!!

I'd say if you're looking to use it for short, flat rides (up to an hour or so) where you don't plan to leave alone it for long, and if it makes you smile, then it's definitely worth it!
NO WAY are they a fad. I've been riding my SIL's bike from when she was a kid in the 60's .. her beachcomber... she keeps trying to steal it away ..lol ... sturdy frame .. it's a great bike ..... SIL is about to be a granny so she keeps saying the back is great for a baby seat ... i may cave.
I don't have one, but my mom said. And she's definately not a "hipster", she's a school counceler/teacher in her mid-50s. She loves it because it's so comfortable to ride.

Whoa our hipsters here in the North East US look more like this: 
and don't ride bikes... lol. We also have another branch of them where they dress like straight up 70's hippies and call themselves hipsters. They look like this:

...they don't ride bikes either. lol
Maybe it's just where I live?
I didn't know walmart had them! I might go check them out there today now. I still really want a vintage one, but all the ones on craigslist in my town sell so fast.
@HappilyEverAfter54: haha, we have the same types of hipsters... that other photo looked like a homeless person. LOL.
Our hippie hipsters definitely ride those bikes.
I myself am not a hipster, but I do have a vintage bike, a Schwinn Stardust! I didn't pay for it, but it was around 700 when I got it which was about 5 years ago.
@.twist.: sweeet I have one similar... but it's rusted horribly so it's more for show now =) I just liked it cause I had one from a thrift store when I was a kid XD
@HappilyEverAfter54: That first photo looks like an emo. lol I love these bikes. I have a pink one.
I love my cruiser! It looks like this one, only I have plain grey saddlebags:
http://www.flickr.com/photos/ubrayj02/4223935679/in/faves-19343257@N00/
I used to have a mountain bike (AAAAGES ago) but last summer I decided it was silly to be driving to the grocery store, when I could easily bike there. I got the bike mainly for errands, and commuting sometimes. I love the step-through frame, I love that the chain is enclosed. It makes me smile when I ride it, and I see it making other people smile too. I like having a bike that I can ride around in my ordinary clothes, even skirts and dresses. If I was riding a mountain or racing bike I'd feel like I'd have to change into 'proper' sportswear.
@Miss Tattoo:our emo kids are always in black... just black, even in the middle of summer... with skinny jeans! ahhhh it makes me hot thinking about it.
I guess I'd be called a scenester here because I like to rave... Kandi kids (with the beads) and ravers get the scenester label a lot.


(I actually do see a lot of bikes outside of raves!! All kinds... but always bright colors lol)
Before I moved to my current college town, I bought a Schwinn Cream because I love the vintage look, even if it's just a replica. This bike is really comfy and fun to ride during my commutes to and from school. My only regret is that it is a single-speed. Had I known this model came in multiple gears, I would have spent the extra $100 to get it. Now I'm trying to sell it but I will probably have to wait until the end of summer when new students are arriving and looking for bikes.
Definitely not a fad. At least not around here. Love my beach cruiser!
This is mine....
I've had it for close to 10 years and I love it!!
Cruisers are quite common in the city/by the beach where I am.
The "scencesters/hipsters" that use their bikes for communting ride the skinny tired old school 10 speeds with flipped up handles bars.
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You know the ones with the baskets on the front and the big handlebars.... are they a big fad? I'm thinking about getting one. An old one off craigslist. But they sure are going for a lot of money right now - $150 -$200. Seems like a lot for something from the 60's.
A year from now will people wonder why I'm riding this old bicycle? Is this just a stupid hipster thing?