Many more educated and learned could answer this better, but here goes.
Help me, because I don’t think Jesus said this “many times.” Help me, if I’m wrong here.
Jesus was teaching about the kingdom. Certainly to the young man, maybe Jesus meant that he should actually do that. But, to us, is this not a lesson in how we should properly assess and value the “world” and our possessions?
There are things in the gospel that are considered commendable, but not absolutely obligatory. There’s a precise term for that, which I can’t recall. (maybe, “evangelical virtues”?)
Then or now, nobody could just live their lives responsibly e.g. raising a family, if they were constantly giving everything away. In at least one interpretation, gnosticism considered all physical reality to be evil. This contradicts scripture, that all the God created was good. very good.
I don’t think that any Christian group has ever believed this in its most literal form, or completely lived a life in common.