Lyric discussion by junkmale 

Cover art for Common Cold lyrics by Rustic Overtones

This seems like Rustic returning back to territory they've visited before (in Girl Germs and Sugar Coat). Sounds like the speaker in the song is calling out someone (presumably a woman, since he calls her "babe") who has been screwing people over in relationships as a habit, and is making two points: one, that this person fell in love ("you're burning with fever") and knows what that pain is like now; and two, that this person isn't the hot young thing who could jump from bed to bed anymore ("where will you hang your hat? Where will you lay your head?").