This site is about the overreaching political power of the NC Association of Realtors flush with money from cashing in your equity 6% at a time, leaving you to pay for growth with property taxes, year after year, with or without cash flow. In the last few years NCAR has pumped millions of dollars into NC political campaigns at the state and local level. They have spent millions more to defeat Local Options for Local Governments with misleading ads.

Saturday, January 5, 2008

Subprime Voted Word of the Year

Yesterday the American Dialect Society announced "subprime" as 2007 Word of the Year at its annual convention in Chicago. The Society's quarterly journal American Speech is published by Duke University Press. A press release issued Friday described how "subprime" also won a new category for real estate words and handily beat out common 2007 words like "waterboarding", "surge" and "Facebook" for the overall title.

“Subprime” Voted 2007 Word of the Year by American Dialect Society

HILTON CHICAGO—JAN. 4—In its 18th annual words of the year vote, the American Dialect Society voted “subprime” as the word of the year. Subprime is an adjective used to describe a risky or less than ideal loan, mortgage, or investment. Subprime was also winner of a brand-new 2007 category for real estate words, a category which reflects the preoccupation of the press and public for the past year with a deepening mortgage crisis.
  • subprime, an adjective used to describe a risky or less than ideal loan, mortgage, or investment. 79 votes

  • green- prefix/compounding form Designates environmental concern, as in greenwashing. 9 votes
  • surge an increase in troops in a war zone. 1 votes
  • Facebook all parts of speech. 11 votes
  • waterboarding an interrogation technique in which the subject is immobilized and doused with water to simulate drowning. 1 votes
  • Googlegänger A person with your name who shows up when you google yourself. 7 votes
  • wide stance, to have a To be hypocritical or to express two conflicting points of view. When Senator Larry Craig was arrested in a public restroom and accused of making signals with his foot that police said meant he was in search of a anonymous sex, Craig said it was a misunderstanding and that he just had a wide stance when using the toilet. 2 votes
  • subprime Used to describe a risky or poorly documented loan or mortgage. 65 votes

  • exploding ARM An Adjustable Rate Mortgage whose rates soon rise beyond a borrower’s ability to pay. 10 votes
  • liar’s loan/liar loan Money borrowed from a financial institution under false pretenses, especially in the form of a “stated income” or “no-doc” loan which can permit a borrower to exaggerate income. 1 vote
  • NINJA No Income, No Job or Assets. A poorly documented loan made to a high-risk borrower. 34 votes
  • scratch and dent loan A loan or mortgage that has become a risky debt investment, especially one secured with minimal documentation or made by a borrower who has missed payments. 2 votes

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