Noun- A person who wastes money on things that aren't necessary, not in a bad way; an item that costs a lot of dough, resulting in personal bankruptcy
Verb- To splurge for your own benefit.
"Ay, you just got dem $200 Nikes?! Damn, Scrilla Killa."
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.