The title says all we know so far.
Player housing was confirmed during the Warcraft Direct.
https://cdn.discordapp.com/attachments/888529681878515732/1306329942878978240/image.png?ex=67364610&is=6734f490&hm=5d63e239831e7c017cb6a9fefd338c9b42f744b5a039d46ffc1443391d0f8fc5&
https://media.discordapp.net/attachments/888529681878515732/1306330012819001364/image.png?ex=67364621&is=6734f4a1&hm=b0694f0e5e866d4bac7042ea04488532b9a5a57750990dc6feb9ec37188e5ac2&=&format=webp&quality=lossless&width=1191&height=670
It looks like there could be some customization, looking at the following screen shot.
https://cdn.discordapp.com/attachments/888529681878515732/1306331215539994704/image.png?ex=67364740&is=6734f5c0&hm=8246ee7fd876eb60cf700007fa8de2cb8c7129c41e00a17b1f48ea1c0b8fdb1d&
Personally I’m super stocked, but also hope we can theme player houses racially, per class etc.
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Depends what you can do with it. If it is just a vanity thing with no functionality, I’m not fussed. It’s about 2 years away, so lets see.
Time to redo every old content for the billionth time to unlock stuff for it. 
Be neat if your alts randomly show up there as NPCs.
It’s something really big for a log of players myself included, if done right.
They could give it different functions outside of the obvious fun and rp, but will see.
I’m so excited we are finally going to be getting player housing
I can’t wait to see what it entails.
As long as it´s a purely cosmetic /collection feature, have at it.
But the biggest mistake they can possibly make is giving us a garden again… or amine… or a fishing pond… or mission table… or access to crafting professions we don´t ourselves have… meaning we don´t ever have to leave our housing ever again except to run instanced content, as was the case in WoD, and one of the primary reasons garrisons were a flop.