Banks predict housing gains worthy of a party

JPMorgan Chase & CO. and Bank of America Corp. are forecasting steady increases in housing prices for years to come, Bloomberg reported.

JPMorgan this week more than doubled its forecast for U.S. home price gains to 7 percent by the end of 2013, and anticipates prices will increase by more than 14 percent through 2015. Bank of America in a recent report forecasted an 8 percent spike in housing prices this year.

The title of Bank of America's report: "Someone say house party?"