I just Googled townie to see in what way Terminus was using it here, and I had no idea it could reference a fraternity member living outside of a house. You learn something new every day!
I also didn't know it could be used in a derogatory manner. But I suppose that's because in New England, I generally heard people refer to a townie as anyone who has lived in the same place forever. Plus, my mom graduated from East Providence High School in Rhode Island, and their mascot is a Townie!
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