If someone makes up a word, is it considered bad grammar, or bad spelling, or something else?
The word and phrase I have in mind is "housecolding party", but this is a general question.
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So long as your meaning is clear, ain't nothin' wrong with neologisms.
Especially, as in your example, in the case of a clearly understood portmanteau that plays on the antonym of an already established word, there's nothing wrong with it. In formal writing, (or in any other context where you can't be certain of your audiences ability to decipher your new term), you may wish to define it, both as a matter of style and of courtesy, but the practice is in no way inherently problematic.