Maybe I am not understanding, but if you have $100k set aside for consumption over the next year (ie, liquidity needs), are you saying it is prudent to take out a $100k mortgage to hedge against monetary inflation?

Current mortgage rates are 6-7%. 6 month CDs (ie, where you might park your savings) is paying about half that in the US. 

Do you really think the risk of short term monetary inflation is worth the delta (ie, around 3%), and then that real estate is a good hedge (after fees associated with the mortgage, etc)?

What am I missing?