Re: "It's time we went home?" or "It's time we should go home?"
1. It's time we go home.
2. It's time we went home.
3. It's time he was here.
4. It's time he were here.
Earlier in this thread I saw:
I would agree that, in BrE, "It's time" + the present subjunctive (as in #1) is at best extremely uncommon; #2 would be the dominant form.
As far as I know, It’s time we go is also acceptable, but there may be a BE/AE difference in usage. If you're writing for an exam, avoid "It's time we go."
(In fact, before I read a similar thread on another forum in which it was stated that #1 might be possible in AmE, I would have taken #1 as an error.)
Another interesting aspect of this structure: I would expect to hear #3, but not #4, in BrE. If this is generally the case, it has implications for the "subjunctive" interpretation of the structure.
Not a professional ESL teacher.