What we have seen is the housing market stalling and prices heading down. If the Government response isn’t quite “let them eat cake” or “I’m alright Jack”, it is in danger of coming across as flippant. I think when I bought my home many years ago, the market kept sliding, I was in negative equity,” he said. “Negative equity is not something that people who are buying a home to live in, they’re living in it, they’re making the repayments, it’s not something to be threatened by.” It will be interesting to see whether that will be called an intended or unintended consequence of the Budget’s changes to housing taxes.