i only caught wind of this last night when i was on the PSN store articles - never even herd of 'Home'
hopefully it will be a test onto see the capacity for the start of console MMO type games. the ideas i read are sound and could prove to be fun. what i read from the store is that it is to be released in March and will be a free download for anyone.
its basically a virtual world, kind of like the Sims but online, where you can meet people, buy an apartment and customize it with items from your hard drive, share files, watch other peoples movies in the cinema and such - i know its been done a few times but i look forward to it - could be fun.
*pics from various resources*