The False Ballerhood is a society of somewhat well-off young adults who spend money in a way that would cause the casual observer to assume that they are ballin' hard. In reality, they still live with their parents and don't understand real world finance.
Person 1: Did you hear Greg is having his party at some super ritzy club? He's getting bottle service and everything.
Person 2: Does he even have a job yet? I guess it's just another set of parents financing The False Ballerhood...