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Investing

Jamie Dimon Calls Bottom of Housing Cycle (JPM)

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By Jon C. Ogg Published
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If there is one bank CEO who can still complain without having to endless apologize after the banking crisis, it is Jamie Dimon of J.P. Morgan Chase & Co.  Today he took advantage of that again on an interview with the Fox Business news channel.

Dimon talked about expansion plans and also about creating jobs, but he discussed current banking trends and making loans in a tough economy.  What is interesting is that he has called for opening the mortgage markets back up and said that we are at the bottom of the housing cycle.

J.P. Morgan shares are up about 1.6% at $38.22 today versus a 52-week trading range of $27.85 to $48.36.  The banking giant’s shares are actually up almost 16% since the end of 2011.

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About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

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