18.03.2013 - Biggest banks see U.S. home prices surging this year
Federal Reserve Chairman Ben Bernanke’s efforts to revive housing are making real estate bulls even more bullish. JPMorgan Chase & Co. more than doubled its forecast for U.S. home price gains in 2013 to 7% this week, and predicts a more than 14% increase through 2015. Bank of America Corp. said last week property values will jump 8% this year, up from a prior estimate of 4.7% in a report titled “Someone say house party?” The two biggest U.S. banks are predicting an accelerating rebound as homebuyers and investors rush to acquire a dwindling supply of properties and the Federal Reserve pushes down borrowing costs by buying mortgage bonds. ..............................................Full Article: Source
Print