The problem is that the inflation dollars are not coming fast enough when your monthly mortgage payment is due.  It is o.k. if you can hang on 5 or 10 years.  Say, 5-10% inflation per year over 5 years.  No, problem making payments, but it takes time. 

It worked in the 1970's with machinery.  You bought a $30,000 tractor and made min. payments and let inflation pay for the tractor.  Tractors were going up 10% or more per year in price alone.