According to the American Dialect Society, the 2007 word of the year? Subprime.
w00t!
And in other news: According to the National Association of Realtors, pending home sales have fallen 2.6% in November, well beyond the 0.8% decline predicted by economists.
The NAR does not now see a rebound in housing until 2009.
UPDATE: The head of Fannie Mae is now predicting that housing won't recover until 2010.