NZ 1st homebuyers are ScReWeD...

[fungus pudding]

I think simpletons also pay tax on their nominal wage increases last time I looked. Some of them enter a higher tax bracket through bracket creep as well but as you say owners of capital should not have to pay tax but labour should. So very sensible now that you have explained it to a simpleton like me.

To say the poor blighter has done nothing at all to cause house price inflation is not exactly true. Of course he has, he has voted national or labour on the basis they don't rock the boat on monetary policy and house prices and lose the boomer vote.

They should certainly solve the problem of bracket creep - easily achieved by introducing a flat tax.
Wage earners receive real increases, whereas the hard done by property owner has to suffer the falling value of a depreciating assett which the dopey govt. recently decided to no longer allow depreciation for. So the poor investor now pays tax on his losses.
No wonder they need to regularly increase rents! Imagine how much it would cost to fly if the airlines couldn't depreciate their planes!
At least you should have some sympathy for the poor landlords!