Building, or having, a storage server in your own home to store all your data (e.g., your email) doesn't seem that difficult. Maybe FreeNAS and version control done by Git. Cross-site replication / off-site backups done by peer-to-peer reciprocal agreements with storage servers of friends.
Building them out of commodity hardware and free software allows for a large industry to come to exist for repair and maintenance, as many competing vendors of the original product, similar to all other home appliances. Or you could build it yourself.
Designing the interface of how to read and write data (especially who can read and write data) seems very formidable, with many applications and many devices all accessing the same storage server. Cleaning up unneeded data could be tricky. Users learning the semantics of the version control (snapshot) system might be tricky, though Google Docs and Mac Time Machine already do it.
Is there a legal or other practical advantage of having your data physically in your own home, rather than "in the cloud"? Maybe your storage server is storage that is owned, whereas the cloud storage can only be rented so you could lose it more easily. It becomes tricky again if the system is expensive enough that some people may purchase it on a financing plan.
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