People won't be able to borrow against their lost wealth either (or only at very high rates). Builders/Flippers will stop spending and so the construction trade

People won't be able to borrow against their lost wealth either (or only at very high rates). Builders/Flippers will stop spending and so the construction trades will suffer a lot... ditto RE sales people and their 6% commissions. I don't think inflation would be high for long.