And when private banks provide near-unlimited debt the total cost of the average mortgage will consume all income after paying for food/heating/fuel.

And if we get more productive disposable income will go up and that will feed into land prices.

All the rentier need do is wait.

edit: would love to hear the counter to this from whomever downvoted me - it's a fact that with our system productivity improvements flow into land prices therefore speculating on land sees you capture these gains.