My friend bought a house to use as a guild hall, but even though I have editing rights, only she, as the owner can actually place the items that in turn can be edited.
This means that bound items like the Jesters Banners cannot be used in any kind of shared housing, if it is not bound to the owner, or freely tradeable.
I personally have no intention of buying any sort of house, whether in-game or from the crown store. However, I was very happy to help my friend furnish her house however I could. The restrictions on who can place items, or what furnishings are tradeable restrict this. They make housing a very selfish affair.
The trend in ESO since launch has always been to find more ways of letting people play together. I hope they would extend this design to housing as well.