It is hard to break that shield. House payments stay the same with inflation. So if you were paying $1000/month and inflation doubles the price of everything you still pay $1000/month. Your income is likely to double in this situation, and while everything else goes up in price you still have that extra $1000/month in your pocket ($500 after accounting for inflation). Or you can do a cash our refinance to get a lot more cash and bring your payments up to $2000/month.

Note that while this is happening bad things happen. It often is the case that you have to live on less real purchases for a few months until your wages go up. However as a homeowner the mortgage not changing means it only takes one or two rounds to get ahead of this forever (that is before you never revert to worse than when you bought the house - you can go backward in purchasing power but not that much), while as a renter your rent will increase yearly and that is often a big hit against your wages that won't increase at the same time (and often not at the same rate - it will balance out in 5 year but that is a long time to live)

Don't read the above as a rant against renting. There are other pros of renting. You need to make the right decision for your personal situation.