I don't care who wins, as long as they don't take away all the credit market safeguards again. The decision back in 2002 (allowing merchant banks to create insurance policies against risky 'sub-prime' loans without having any capital to back up the policy) caused the GFC, the Euro-debt crisis and the worst global depression since the 1930s. And that comes from an Australian who wasn't directly affected by the massive property bubble which devastated the lives of many Americans - I don't even want to imagine what that was like.
What "credit market safeguards"? Nothing has changed other than the banks aren't lending.
I don't want to get too political so I won't use names, but:
The same mortgage B.S. that contributed to the GFC happened in the southwest (Arizona) in the 1980's and one of the 5 politician's most responsible (a member of the "Keating 5") was almost elected President in the last election. Yep, the person in the Senate most qualified to identify and stop the mortgage crisis as it developed in the 1990's and early 2000's - did nothing and was rewarded with a nomination for president..
Want some more irony? A recent president was former governor of the state least affected by the mortgage crisis. Why was that state least affected? That person oversaw implementation of tough lending laws as a result of a housing crisis in that state in the 1980's prompted by the Savings & Loan crisis and collapse in the oil industry. Unfortunately that former president didn't see fit to implement the same lending requirements at the national level as he did as governor.
And what have politicians of both parties done since the collapse in 2007? Absolutely nothing! The S&L crisis in the 1980's was created by loans being given to people who weren't qualified, the recent mortgage crisis was the same. Both situations led to property devaluation and tax payer's picking up the tab for the damage created by irresponsible lenders.
This isn't the last time we'll see this. As long as loans are given to people who don't have sufficient income to pay them, then house prices will be driven up beyond what local salaries can support. Want to see realistic and stable house prices: Require 20% down and don't allow the down to be financed, then punish lenders who make loans to people who aren't qualified for the loan amount. Home prices should be directly related to local salary levels.
I apologize to anyone who takes offense to the political nature of this post but I lived in Phoenix in the early 90's and saw the destruction from the S&L crisis, I lived in the northwest (Silicon Forest) in the late 90's and saw what the local banks (WaMu) were doing and knew what was coming.