Jed Kolko, Mitt Romney and Pres. Barack Obama

Although both presidential candidates largely ignored the housing crisis during the race, Trulia chief economist Jed Kolko argues that housing policy would look very different had Romney won. For one, Obama has emphasized stimulating the housing market, making it easier for mortgage borrowers to refinance to a cheaper interest rate. On the other hand, Romney’s housing plan did not even mention refinancing, despite support from one of his economic advisors.

Obama has also worked to better regulate lenders, establishing the Consumer Financial Protection Bureau, under the Dodd-Frank Act. The Bureau will introduce new mortgage standards by January 2013 crafted to penalize lenders that push consumers into unaffordable loans. Romney had blasted Dodd-Frank for holding back mortgage lending and pledged to “repeal and replace” the legislation. [more]