One issue with homeschooling that I haven't seen addressed in the previous comments people have made is that it's nearly always the mother who winds up doing the teaching in the families I've known who've undertaken it. Not only does that mean giving up her own career chances for a decade or more, but it's a lot of pressure to place on one person who's also busy keeping a household running. One mother of my acquaintance found that after a couple of years, she was simply far too stressed trying to do everything, and was worried she was letting her child's education slide in favour of keeping up with the chores and trying to do her own work on the side, so wound up sending her child to public school and supplementing her education with lessons at home that addressed, for instance, ways in which they didn't agree with what the school was teaching (things about US history and politics, mainly, I believe, but also additional teaching about sex ed and more advanced math and computer programming and so on). As far as I know, that child is doing fine in elementary school, and has had the advantage of learning early to question whether everything that her teacher says is absolutely true.

On the flip side, the community centre I went to in TO had programs for kids most mornings (things like arts and crafts, music, or even just letting the kids run around the gym and play with toys and each other), and a lot of the families who came there were homeschoolers. It wasn't expensive to have a membership there, so it wasn't as though only the rich had access. In an environment where there are opportunities like that to be had, then the problems of enrichment and socialization aren't insurmountable.