(CNN Business) Jamie Dimon acknowledged the housing boom may be getting out of hand, but the JPMorgan Chase (JPM) CEO isn't worried about a repeat of the Great Recession.
Dimon acknowledged during a Senate hearing on Wednesday that there "is a little bit of a bubble in housing prices."
But, he added, "unlike in '08 and '09, when there was tremendous leverage and bad mortgage underwriting, there is not much leverage and much better mortgage underwriting."
His comments came in response to a question from Senator Jon Tester asking if there is a housing bubble .
Dimon was the only big bank CEO to outright say there is a bubble , but he stressed the financial system is better positioned this time because banks have stocked up on loss-absorbing capital.
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