If we will not own anything, then who will own it? Who will own the land? Your house? Furniture? Everything? You will rent all this stuff. Rent it from who? Take a guess.
Feudalism. That is what this is. Serfs and elite landowners. Will you be happy? Will you have a choice?
More and more farmland is being bought up by a few very rich people. Farmers rent the land. Feudalism. Its already here.