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20% inflation means about 15-20% interest rate for mortgages. This rate will bankrupt about half of the families due to the mortgage payments.
The era of high houses prices has made much harder to survive interest rates more than 5%.
It depends on what type of inflation it is. If it is monetary inflation (which is what I think we’re contemplating) then it should be accompanied by wage increases and asset price increases. As Logan says, it’ll help devalue the debt along with cash savings. The losers would be those on fixed incomes, such as pensioners on fixed annuity rates, but they should have paid off their mortgages anyway.