You could very well be right. However, this depends on other factors too, such as assuming you have opportunity to grow your wages in correspondence with inflation, which might not be true for a lot of people. In Norway we have the term "reallønn" (real wages) that is basically wage in relation to inflation, which one can see almost always decreases in times of high inflation (on average). So for those that have leverage to get raises beating inflation, high inflation could entail a good time to take up loans. Still, central banks also almost always respond with increasing rents subsequently, hence the answer might be maybe not so much given that paydown times often are 30 years or so.