Also, it would require every friend to have savings to put down a down payment and also credit good enough to actually qualify. That's on top of finding 3 or 4 friends you're willing to live with.

Not to mention 3 or 4 ppl that can and will reliably make mortgage payments for 15 or more likely 30 years. Once someone drops out because of life events then they'll want to be bought out by the next person which introduces a whole bunch of headaches. Having watched this exact thing play out, this will most likely turn into a bitter nightmare of endless paperwork and some ruined relationships.