This is not going to be nice and polite -- I apologize for that, but this isn't a very kind topic that we're discussing:
How old are you? If you're in your late 80s and realistically have few years left, this is more reasonable than if you're 50 (and likely have decades left on Earth).
Your son might be hit with unexpected taxes.
A possibility to consider: Suppose one of you dies tomorrow, while the other lives on another 20-30 years. Suppose that remaining spouse unexpectedly meets another someone special and wants to remarry, and the new couple would like to sell both houses and relocate to the beach or the mountains. Or, if considering remarriage is too difficult to imagine, say one of you and a sibling (or a friend) both find yourself widowed . . . and the two of you want to move in together for companionship. Not having the ability to sell the house /access your equity could become a hardship.
A possibility to consider: You don't mention a daughter-in-law, but let's say your son gets married in a year or two . . . and you don't particularly see eye-to-eye with the girl. Then something happens to him -- an accident, or whatever. Now the girl owns your house. And controls a portion of your future. Or they divorce, and now he owes her half of your house -- and he has to come up with the cash or see you out on the streets.
Another possibility to consider: Say your son falls on hard times. Say he enters into a bad business deal, or he causes an accident -- not that he'd ever WANT to harm you financially, but say he is sued, and he owes a huge amount of money. If you're living in one of his assets, it could be taken from him.
A final possibility to consider: You say you're in the "rust belt" and things are kind of bad already. Suppose things get worse, or worse for your specific neighborhood. To give an example, I live in an "old people's neighborhood". It's a neighborhood of big, old ranch houses built in the 60s and MANY of the inhabitants are the original owners; for whatever reason, FEW houses in this neighborhood EVER go up for sale. In the last couple years TWO of my neighbors just on my small cul-de-sac have been widowed; I fear it's not going to be too many years 'til my neighbors die or are forced into nursing homes /their children's homes. And because so many newer, more stylish neighborhoods have been thrown up around us (and those neighborhoods have pools and clubhouses), I fear that ours will become a rental neighborhood. I want to be among the first to sell rather than the last, and TODAY the biggest selling feature is the terrific location. The larger point: At this moment you have the freedom to make decisions like that -- to decide it's time to get out of the neighborhood -- but if you give the house to your son, you give up that right.
The quit-claim deed can absolutely protect you from some of these nasty possibilities, but they also tie your hands and prevent you from having full access to your assets.
Overall, I think this plan has much risk and little benefit for you. I wouldn't do it.