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Main issue with taking inflation into account is that wage inflation doesn't exist, companies aren't giving raises every year to 'match inflation', if they do offer raises it's for retention and/or is performance-based.

This chart is based on forward inflation expectation, which is probably lower than actual. Ideally I'd like to see this chart until 10 years ago that compares the rate of interest on a US 10Y t-bond when issued with the actual inflation that occurred over the 10 years until it matured.

Inflation fluctuates constantly. Mortgage rates are fixed for 15-30 years, unless one makes the mistake of getting a variable rate loan.