
CHART OF THE DAY: Housing starts decline 5.1%

Economic News from RSM
by Troy Merkel
There is good news for the U.S. housing market that saw a rough end to 2018. Domestic housing starts rose 5.7 percent to 1.235 million in April, while permits grew at a more modest 0.5 percent to 1.296…
Housing starts fell 1.5% in February, to a seasonally adjusted annual rate of 1,599,000, which is less than anticipated as forecasters projected a 4.3% decline.
November housing starts rose by 3.2% to a seasonally adjusted rate of 1.365 million in November, exceeding expectations. The news kept on rolling with housing permits, a leading indicator of future starts, rising to 1.482 million – the…
Troy Merkel is a Partner and Real Estate Senior Analyst at RSM. He has 15 years of experience in audit and consulting, with a particular emphasis in real estate and financial services reporting, in accordance with US GAAP, IFRS, NCREIF PREA Reporting Standards and income tax basis. He is also an expert in accounting for asset acquisitions and complex leases and specializes in various tax-advantageous, in particular Opportunity Zones and government subsidized deal structures.
In 2018, Troy was selected as a senior analyst in RSM’s cutting edge Industry Eminence Program, which positions its senior analysts to understand, forecast and communicate economic, business and technology trends shaping the industries RSM serves. These senior analysts advise clients on conditions impacting middle market leaders. Troy’s focus is on the real estate industry.