I lived in a communist country as a child, ex Yugloslavia, so to correct few assumptions.
Private property was protected. You could have a flat, house, land, bank account and even a small business like hairdresser salon, butcher shop, florist shop and things like that. People at the Adriatic coast were encouraged to build apartments for renting to tourists. All big business were owned by the state.
For what it's worth, I think communism has some good ideas (not all). But that is the trouble, it is a good idea but because people are not perfect it can never be implemented. Things just do not work that way.
In communist states people are paid the same no matter how they work so those bright and capable have no wish to be better because it is the same no matter what they do. Same with companies. Good company has to give money to a bad one. People resent it and of course it can't work.
But capitalism is no better, it could be even argued it is worse. Capitalism is good for smart, capable, rich, those with good connections, especially those who are rich. But it should be heavily regulated by the state. But people we vote for are influenced by those with money, so rules and regulations are always implemented to benefit the rich.
The gap between poor and rich is getting bigger every day, and middle class is shrinking. Revolutions happen when people can't take it anymore. I think it will happen at one moment, but when will that be I don't know. 50 years from now, 100 years, who knows.