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1.
When a "Homie" (Friend, for you white kids) does something either good or bad for you or to you.
Bad:

Friend 1: "Did you know Rob took my car and crashed it?!"
Friend 2: "Homie shit."

Good:

Friend 1: "Hey wanna grab something to eat?"
Friend 2: "Nah i can't i don't have any money."
Friend 1: "Its cool ill pay for you."
Friend 2: "Homie Shit."
by bigjohn23 February 10, 2012