Used by students of the Mercedes class of 2006. It evolved from the use of sarcasm. i.e. When someone says something that is unfavourable, the response is 'real'.
Person 1: We have to stay behind after school until we finish our assignment!
Person 2: Real! Like we're gonna do that
OR
Principal: If anyone is involved in vandalising the school on muck-up day, they will not be allowed to sit their exams here.
Yr 12s: (muttering to eachother) Real!
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