Inflation adjusted salaries would have had the same effect in terms of enabling the housing ladder climb. If you only lock interest rates to inflation what you get is a population of insolvents, and richer banks.
A lot of people my age (31) +/- 10 years, middle class, professionals, are leaving the country in droves to Europe, Canada, USA and other LATAM countries as we realize there is no hope things will get better, as it's the same story our parents and grandparents went through.