Leveraging is a powerful tool if used correctly. In his case

he obviously used the tool poorly. He was not in his right mind to borrow money to buy a no-income vacant land. People often blame the tool for their mistakes. In reality, it's not the tool's fault, it's the fault of the tool user who uses the tool incorrectly. A knife can be used to stab people. The same knife can be used to carve the most beautiful sculpture. It all depends on how the user will use the tool.