Property ownership simply means a section of land that you have power over. When I "own" this half-acre, I will have nearly full say over how it is used, balanced with my co-owner, and municipal, county, state, & federal laws.
As they say, a man's home is his castle, & at one point in Western society, this was a revolutionary concept. That a man have say over everything that happens in his home. Not the Duke or King or police. (Much we've already unpacked there about sexism, etc.)
So getting down to fundamentals:
Is there a need in our society where each person has an area that is nearly 100% their own? Not as *wealth* (geez wealth is such a distracting concept), but as a function of empowerment. When I'm here, there is little power anyone else can have over me. When you step on this soil, I have say over your actions. You are only here by my will, I can make you leave, and you can't make me do anything.