How can I use the /home directory

I'm doing development work on my Mac (running Snow Leopard). The output location for the production server I use is under "/home/subdir". I'd like to develop my files on the Mac so they reside in the same relative location, but from the default install this is not possible.

The /home directory is hidden by default. If I view hidden files, it looks like a mounted hard drive, but with no space. If I try to do something in the /home directory, I get "Operation not supported". For example, from the command line "sudo mkdir /home/test" returns "mkdir: /home/test: Operation not supported".

(Originally, when I was useing Leopard, I moved the installed /home to /home_old and created my own /home directory, but the install to Snow Leopard reverted it back to the locked out /home dir. The other one was preserved, but it makes me nervous enough that I don't want to try it again without some reassurance.)

So, the question: Is there a safe way to use /home on a Mac running Snow Leopard?