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Robert Johnson, CFA

Robert Johnson, CFA, is director of economic analysis for Morningstar.

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Many factors have contributed to the strong rise in multifamily housing starts, and now single-family homes are getting a boost as we move further past the recession.

With GDP being increasingly tied to huge swings in inventory and trade data, investors need to look deeper into reports to get a sense of the strength of the underlying economy, says Morningstar's Bob Johnson.