Treasurer Jim Chalmers has said the federal government is concerned about young people being locked out of the housing market but won't confirm if there will be changes to negative gearing or the capital gains tax ahead of the 12 May budget.In an interview with Channel Seven's Sunrise program on Thursday, Chalmers flagged the issue of "intergenerational fairness" in the budget, saying some drivers of this issue are in the "housing market" and "tax system"."There are some issues of intergenerational fairness that we’re very focused on, and one of those issues is whether or not young people can get a toehold in the housing market," he said."A lot of us are concerned about .. Those against negative gearing argue that it has increased housing costs and widened the inequality gap between those who can afford to enter the market and those who cannot.Others who are in favour of it say restricting negative gearing might lead to fewer investment properties and rental homes.In his interview with Channel Seven, Chalmers said "we think very carefully about any implications of any changes that we make when it comes to housing or when it comes to tax reform"."One of the big issues is the way that over time the amount of young people who are in home ownership, owner occupiers, as a proportion of the overall housing market that's been trailing away."For the latest from SBS News, download our app and subscribe to our newsletter.