(For the uninitiated, WASPs are White Anglo-Saxon Protestants -- i.e., non-Catholic non-Jewish white people. The implication is that WASPs are snobby rich folk.)
Literally: "Every time a wasp flies near me, I run away."
Figuratively: "Every time a WASP comes near me, I walk away."
A Shackteau is a humble, weather-beaten, structurally questionable shelter located in a spectacular or highly coveted place—Wales, Jackson Hole, Sun Valley, Crested Butte, coastal Maine, the Alps—where the building itself may be worth almost nothing, but the dirt, view, access, and mythology make it absurdly valuable.
In use:
Shackteâu - We thought it was an abandoned shed until the realtor called it a rare alpine Shackteâu with unobstructed views and listed it for $2million.