American Dialetic Society has named “subprime” as its 2007 Word of the Year.
From a linguist’s stand point the word is unique in that it means “far below the best” at its root level.
Of course, that shouldn’t come as a surprise to many that are feeling the crunch in today’s housing market.
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There’s a move in the mortgage banking industry to change the terminology from “subprime” to “non-prime.”
Wish the rest of us would like subprime as much as the linguists (and lenders) do! The word simply spells trouble for borrowers and unleashed enough unrest among the banking sector. Subprime, non prime… it still has the real estate business reeling.