These passages have often been interpreted as seeing the early Church as a form of collectivist society. Many scholars, however, point out that that this description only means that all in the early Jerusalem community were generous with their personal goods to the point that none went hungry or were in need, selling their own possessions if necessary to provide for their brothers and sisters. And it does seem like the Church in Jerusalem were a needy bunch, as we hear later from the Apostle Paul that he was going around the new Gentile church communities taking up a collection for them.
It has also been suggested that the early Church in Jerusalem may have been very ascetical in their lifestyle (like their contemporaries the Essenes and the followers of John the Baptist) so that they gave away their possessions out of both generosity and from being led by God to practice radical detachment from material goods, like many monks and nuns, for example.
Finally, one interesting theory I heard (from Scott Hahn, I believe) was that since Jesus predicted to them the imminent destruction of Jerusalem, the members of the community saw the futility of holding on to material goods (especially real estate) that would all be gone within a very short time (as it turned out in 70 AD).
So there are several possible implications from these passages, not just the communal living theory.