I wish we had a jubilee year in our time because it would allow people who have been struggling with their life to regain their footing and start over. In modern times, most people are very greedy and materialistic. Perhaps that is one reason why, in ancient times, debts were forgiven every fifty years. People who had borrowed money from others but were too poor to pay them back normally lived a harder life. If debts were forgiven every fifty years, if they were still alive, it would give them a chance to try and live a normal life again. Nowadays, people would not stand for such a principle.
Richer people would not agree to it because they would be losing money they had lent to other people. People who had borrowed money, however, would like it because they would not have to work to pay them back. When people lose land, it is normally because they owe money, and whoever they owe money to is taking the land as a payment. Again, if people had a chance to regain their land after having it seized, their life would return back to normal and they could try and restart their lives also. As with the forgiving of debts, I do not think this would be followed in modern day and age. Land is very expensive nowadays, so having to give back a piece of land would make many people angry.
Now matter how hard we try to make it happen, I do not believe a jubilee year will ever occur again. Our society is too egotistical and self-centered to follow such a tradition. Even though it would be for the better good, people would still not agree to have a jubilee year ever again.