Real, but here are some deciding factors you'll likely have to deal with vs. fake:
Real:
-have to go hunt the tree down
-cut it
-bring it back
-make sure it fits through the doors
-deal with the mess
-can be a bigger fire hazard than fake
-ease of disposal is dependent upon your particular locale
-must do this every year
Fake:
-have to buy it (or steal it, depending on your morals)
-figure out where all the fucking branches are supposed to go
-can be a pain to get it to look "real" enough
-have to take it all apart and package it back up (unless you can keep it somewhere the way it is)
So overall real is a bit more work, but you'll have to decide for yourselves if it's worth it.
Real:
-have to go hunt the tree down
-cut it
-bring it back
-make sure it fits through the doors
-deal with the mess
-can be a bigger fire hazard than fake
-ease of disposal is dependent upon your particular locale
-must do this every year
Fake:
-have to buy it (or steal it, depending on your morals)
-figure out where all the fucking branches are supposed to go
-can be a pain to get it to look "real" enough
-have to take it all apart and package it back up (unless you can keep it somewhere the way it is)
So overall real is a bit more work, but you'll have to decide for yourselves if it's worth it.