Since we are on the topic of housing in an MMORPG, I feel the need to include a link to one of Greg Dean's recent rants (Feb 10th) on housing in an MMORPG. I have to say, he has put a LOT of thought behind this one.
http://www.reallifecomics.com/archive/110210.html
I would love to see housing in some form that is not an instanced room. I would be willing to settle for an apartment, as long as I was not "insta-teleported" to it so I could at least customize my door/window/front wall.