This phrase is a greeting of endearment between Latino gangster youth culture. Ese (masculine) and esa (feminine) are comparable to homeboy or homegirl. The phrase if said by a non-Hispanic is extremely offensive. It is comparable to the phrase, "What up, My n*gger?" in the Latino community. Also, the use of homes is derogatory because it is urban Latino gangster ideology.
by Rafa Diego October 15, 2008