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1.
another way to say times is getting tough or shit is getting harder.
joe: yo nigga i jus layed of work
tom: damn , shit is real nigga...
by somenigga1491 May 14, 2010
 
2.
A term used to describe a situation where a lot of shit or bad things happen.
"Dude, I just got rejected by this hot girl her, and her friends won't talk to me anymore,"

"Wow man, shit is real!"
by SixSixSheep September 30, 2009