Here is what dreamhost panel does

By default, something like:

would point to:


From here you can remap that URL anywhere you'd like. It's great for organizing a website among multiple users!
For Example:
If I wanted to create a new ftp account virtual host called 'subaccount' that would be able to place things in folder '~folder' and have it be visible on and only there.
remap /home/subaccount/ to

Also, please check out my last help thread on how to get the contents of ~folder/ to show the contents of a sub-domain on a different server.

for instance hosted at hostingcompany1 would show up in at hostingcompany2