I thought it was pronounced 'fung shway'.
Anyway, for a place to have "good feng shui" is for it to be in harmony with Nature, to have "bad feng shui" is to be incongruous with Nature.
Bearing in mind that one of it's basic guidelines is that stairs should NEVER face the front door, I think that banjaxes most houses in the Western world. And the issue over the wood is a constant misnomer. Providing you balance all five Chinese elements of wood, fire, earth, metal and water, you can create a feng shui balance within the qi.