Yes, that was badly worded on my part - the mortgaged properties can and are likely to be productive. What I was trying to get at was that the lending of money

Yes, that was badly worded on my part - the mortgaged properties can and are likely to be productive. What I was trying to get at was that the lending of money to bid up the prices of those assets beyond prices that can be justified by their income earning potential is unproductive.