What is your take on home schooling? Pro's and con's please.

Off the top of my head, some pros and cons I can think of: Pros: 1) Freedom. For parents, they don't have to plan their days around exam period, school vacations, school hours etc. For the kids, emotional freedom from possible negatives like peer pressure, bullies, competition. 2) Stability during times of change: When there's a tragedy or a serious illness, a new sibling, a move -- homeschooling can help ease the transition. 3) Being with the children 24/7. Cons: 1) Being with the children 24/7. 2) Child's limited opportunities to be with other children outside the family. 3) Brief loss of income if both parents work because often, one parent will be at home. If not, getting a private home schooling tutor will not be cheap.