(RECAP: Paul Schmelzing, a visiting scholar at the Bank of England from Harvard University, has studied 800 years of bond markets history and says the most relevant parallel with today’s environment is with the late 1960s under U.S. President Richard Nixon. The U.S. was emerging from a prolonged period of low inflation, the jobs market was tightening and a new pro-business president had raised expectations of fiscal expansion. It was a bruising time for bond investors. U.S. bonds lost 36 percent in real price terms between 1965 and 1970, while annual consumer price inflation more than tripled in the period, to 5.9 percent from 1.6 percent. As the world’s largest bond market, what happens to U.S. Treasuries usually sets the tone for bonds across the world. Based on historical standards, bonds could be set for double-digit losses, he said.)

Powered by WPeMatico

(RECAP: While the final numbers aren’t in, Albemarle director of community development Mark Graham says permits for residential units in 2016 could be around 850, a level not seen since 2007’s 831 permits and far exceeding the 514 issued in 2015. Albemarle encourages higher-density development in the 5 percent of the county designated as a growth area in an attempt to keep sprawl from blanketing the rural areas. And the pedestrian-oriented neighborhood model with commercial use thrown in tries to make urbanish centers—even if the development is in the middle of a former cow pasture. “People are buying into the growth area,” says Graham. “We’re not seeing the same amount of rural area development.” Currently about 20 percent of development is taking place in rural areas, down from about one-third in 2007. Crozet, says Graham, is “hot and heavy,” with nearly one-third of last year’s residential building permits issued there. The largest of those developments is Ancient Trail, which is zoned for 2,200 units.)

Powered by WPeMatico

(RECAP: USGBC announced the Top 10 States for LEED, an annual ranking that highlights states throughout the United States that made significant strides in sustainable building design, construction and transformation over the past year. LEED is the world’s most widely used and recognized green building rating system. A continued presence on the list from Maryland and Virginia has reaffirmed the mid-Atlantic region, which includes Washington, D.C., as the center of green building.)

Powered by WPeMatico