I go with fake for a couple of reasons.
1. Real trees require a lot of watering and maitenance (cleaning up needles)
2. Real trees tend to dry up and can be flammable
3. Fake trees require a one-time investment and can last 10 years or more as opposed to buying a new tree every year.
4. Real trees have to be bought in late November/early December to last until the season whereas you can put a fake tree up at any time.
5. I'm not a big fan of the pine smell (or any sap that might exist in the tree).
6. You have to buy a different tree stand for the real tree while one is built onto the fake tree.
Now, some fake trees look awful and to me if I am making a one time, long term investment I get the trees with the real, life-like needles... rounded tips rather than flat bristles that look nothing like the real thing. Yes they run about $200 (more if you get a pre-lit one) but they're worth the investment.
Rp