The US presidential hopefuls have set out their economic policies in a debate dominated by the financial crisis.
Democrat Barack Obama said more had to be done to help the middle classes stay in their homes and accused Republican John McCain of cutting taxes to benefit the rich.
Mr McCain said Mr Obama wanted to raise taxes. He said he would order the United States Treasury Secretary to buy up "bad" mortgage loans, helping create jobs.
The pair also traded blows on foreign policy, the Iraq war and health care.
The debate in Nashville, Tennessee, came amid increasingly bitter attacks on the campaign trail and wide public concern about the financial crisis.
"Until we stabilise home values in America, we're never going to start turning around and creating jobs and fixing our economy," Mr McCain said.
The Arizona senator stressed his own record of working with politicians of both parties to achieve reform and his readiness to challenge his own party if necessary.
"Mr Obama has never taken on the leaders of his own party on a single issue," he said. "Let's look at our records as well as our rhetoric."
He also accused Mr Obama, an Illinois senator, of having one of the most liberal, big spending records in the US Senate.
Mr Obama said the current crisis was a result of the failed policies of the past eight years, led by President George W Bush and backed by Mr McCain.
He said the political process in Washington would have to change to prioritise the interests of ordinary Americans and ensure they were able to remain in their homes.
The second presidential debate, taking place less than a month before the election on 4 November, generated intense interest among the public.
More than six million people e-mailed questions to the moderator, NBC news presenter Tom Brokaw, who presided over the town hall-style debate.
The third and final debate will be held next week.
