Hey, welcome to the forum! Glad you're enjoy the game and the forum.

You are maxed at 90 villagers (well technically with twins and triplets you could have up to 92 but same dif). Anyways, the worried about housing is aparently a glitch that the LDW team is working on so for now, ignore it. Means nothing.
As for the school, aside from allowing your babies to be born with a starting level in a skill, yeah, pretty much useless. But it is amusing! Wait until you have a whole bunch of kids running around then bang the drum. It's funny to watch.