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That's awesome, amazing, or downright sweet. Also used to say you agree with the statement or plan.

The sincere opposite of that's totally gonna happen.
Kid 1: "We just got some crazy imported Chinese fireworks, wanna blow them up with us?"
Kid 2: "What?! YES! That's happening for real!!"

Guy: "Damn, check out that girl's ass! That's happening for real!"
by Peter W.N. June 27, 2009