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HOUSING MARKETS IN CALIFORNIA, NEW JERSEY AND ILLINOIS STILL HAVE ELEVATED RISK OF DOWNTURNS IN SECOND QUARTER OF 2024

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New York City and Chicago Areas Remain Vulnerable to Housing Issues Despite Strong Overall Markets; South Region Faces Less Exposure While West Has More

IRVINE, Calif., Sept. 5, 2024 /PRNewswire/ — ATTOM, a leading curator of land, property, and real estate data and analytics, today released a Special Housing Risk Report spotlighting county-level housing markets around the United States that are more or less vulnerable to declines, based on home affordability, underwater mortgages and other measures in the second quarter of 2024. The report shows that California, New Jersey and Illinois once again had the highest concentrations of the most-at-risk markets in the country, with some of the biggest clusters in the New York City and Chicago areas, as well as inland California. Less-vulnerable markets remained spread mainly throughout the South, along with parts of the Midwest.

The second-quarter patterns – derived from gaps in home affordability, underwater mortgages, foreclosures and unemployment – revealed that nearly half of the counties around the U.S. considered most exposed to potential drop-offs were in California, New Jersey and Illinois. As with earlier periods over the past few years, those concentrations dominated the list of areas more at risk of downturns.

County-level housing markets on that list included seven in around New York City, five in the Chicago metro area and 12 in areas of California mostly away from the Pacific coast. The rest were scattered largely around the South as well as other parts of the Midwest and Northeast.

At the other end of the risk spectrum, close to half the markets considered least likely to decline fell in Virginia, Wisconsin and Tennessee. They included four in the Washington, DC, area and three each in the Richmond, VA, and Nashville, TN, metro areas.

“The housing market boom continues to gain momentum, thanks to another Springtime boost. However, some markets show signs of potential instability, which suggests a mixed level of risk, particularly in certain regions that repeatedly show signs of concern,” said Rob Barber, CEO of ATTOM. “While these observations don’t indicate immediate red flags or warning signs of an impending downturn, they do highlight areas of relative risk. With the housing market still facing challenges, it’s crucial to closely monitor regions where key indicators suggest a higher likelihood of issues.”

Counties were considered more or less at risk based on the percentage of homes facing possible foreclosure, the portion with mortgage balances that exceeded estimated property values, the percentage of average local wages required to pay for major home ownership expenses on median-priced single-family homes and local unemployment rates. The conclusions were drawn from an analysis of the most recent home affordability, equity and foreclosure reports prepared by ATTOM. Unemployment rates came from federal government data. Rankings were based on a combination of those four categories in 589 counties around the United States with sufficient data to analyze in the second quarter of 2024. Counties were ranked in each category, from lowest to highest, with the overall conclusion based on a combination of the four ranks. See below for the full methodology.

Significant gaps in risk continued in different parts of the U.S. during the second quarter of 2024 as key housing market metrics have gotten either better or worse this year. Those measures included home prices, equity and affordability.

Vulnerable housing markets still clustered around Chicago, New York City and inland California
The metropolitan areas around New York, NY, and Chicago, IL, as well as broad stretches of California, had 24 of the 51 U.S. counties considered most vulnerable in the second quarter of 2024 to housing market troubles. The counties were among 589 around the nation with enough data to analyze. (The report includes 51 counties at either end of the risk spectrum, instead of the usual 50 that have been included in prior reports, because of ties in rankings).

The most at-risk counties included three in New York City (Kings County, which covers Brooklyn, Richmond County, which covers Staten Island, and Bronx County) and four in the New York City suburbs (Essex, Passaic, Sussex and Union counties, all in New Jersey). It also included Cook, Kendall, McHenry and Will counties in Illinois and Lake County in Indiana.

Another 12 were in California: Butte County (Chico), Humboldt County (Eureka), Solano County (outside Sacramento) and Shasta County (Redding) in the northern part of the state, plus Kern County (Bakersfield), Kings County (outside Fresno), Madera County (outside Fresno), Merced County, San Joaquin County (Stockton) and Stanislaus County (Modesto) in central California. Two others, Riverside and San Bernardino counties, were in southern California.

At-risk counties have worse levels of affordability, underwater mortgages, foreclosures and unemployment
Major home-ownership costs (mortgage payments, property taxes and insurance) on median-priced single-family homes were considered seriously unaffordable in 33 of the 51 counties deemed most vulnerable to market drop-offs in the second quarter of 2024. That means those expenses consumed at least 43 percent of average local wages. Nationwide, major expenses on typical homes sold in the second quarter required 35.1 percent of average local wages.

The highest percentages in the most at-risk markets were in Kings County (Brooklyn), NY (111.8 percent of average local wages needed for major ownership costs); Riverside County, CA (74.4 percent); Washington County (St. George), UT (70.4 percent); Richmond County (Stated Island), NY (66.8 percent) and Passaic County, NY (outside New York City) (65.3 percent).

At least 5 percent of residential mortgages were underwater in the second quarter of 2024 in 34 of the 51 most-at-risk counties. Nationwide, 5.1 percent of mortgages fell into that category, with homeowners owing more on their mortgages than the estimated value of their properties. Those with the highest underwater rates among the 51 most at-risk counties were Tangipahoa Parish, LA (east of Baton Rouge) (26.1 percent underwater); Peoria County, IL (16.3 percent); Lake County (Gary), IN (13.2 percent); Orleans Parish (New Orleans), LA (13.1 percent) and Montgomery County (Dayton), OH (10.9 percent).

More than one of every 1,000 residential properties faced a foreclosure action in the second quarter of 2024 in 39 of the 51 most vulnerable counties. Nationwide, one in 1,575 homes were in that position.

The highest foreclosure-case rates in those counties were in Charlotte County (Punta Gorda), FL (one in 464 residential properties facing possible foreclosure); Cumberland County (Vineland), NJ (one in 484); Sussex County, NJ (outside New York City) (one in 486); Dorchester County, SC (outside Charleston) (one in 513) and Gregg County (Longview), TX (one in 579).

The June 2024 unemployment rate was at least 5 percent in 35 of the 51 most at-risk counties, while the nationwide figure stood at 4.1 percent. The highest rates in those counties were all in central California: Merced County (9.4 percent); Kern County (Bakersfield) (9 percent); Kings County (outside Fresno) (8.5 percent); Madera County (outside Fresno) (7.5 percent) and Stanislaus County (Modesto) (7.1 percent).

Counties least at risk spread mainly throughout South and Midwest
Twenty-three of the 51 counties considered least vulnerable to housing market problems from among the 589 reviewed in the second-quarter report were in the South while 15 were in Midwest. The Northeast had 11 while the West had just two.

Virginia had eight of the least-at-risk counties in the second quarter: Alexandria City, Arlington and Fairfax and Loudoun, all in the Washington, DC, metro area; Chesterfield, Henrico and Richmond City in the Richmond, VA, area, and Albemarle County (Charlottesville).

Wisconsin also had eight. They were Brown County (Green Bay), Outagamie County (outside Green Bay), Dane County (Madison), Rock County (outside Madison), Eau Claire County, La Crosse County, Washington County (outside Milwaukee) and Winnebago County (Oshkosh). Five more were in Tennessee. They included Davidson, Rutherford and Williamson counties in the Nashville metro area, and Blount and Knox County in the Knoxville area.

Better market measures benefit less-vulnerable counties
Major ownership costs on median-priced single-family homes were seriously unaffordable in 18 of the 51 counties that were considered least vulnerable to market problems in the second quarter of 2024 (compared to 33 of the most at-risk counties).

The lowest levels were in Morgan County, AL (outside Huntsville) (23.9 percent of average local wages needed for major ownership costs); Dauphin County (Harrisburg), PA (25.2 percent); Richmond City/County, VA (25.9 percent); Shawnee County (Topeka), KS (27.3 percent) and Madison County (Huntsville), AL (27.8 percent).

More than 5 percent of residential mortgages were underwater in the second quarter of 2024 (with owners owing more than their properties were worth) in only six of the 51 least-at-risk counties. Those with the lowest rates were Chittenden County (Burlington), VT (1 percent underwater); Hillsborough County (Manchester), NH (1.7 percent); Rockingham County (Portsmouth), NH (1.7 percent); Williamson County, TN (outside Nashville) (1.8 percent) and Loudoun County, VA (outside Washington, DC) (1.8 percent).

More than one in 1,000 residential properties faced a foreclosure action during the second quarter of 2024 in none of the least-at-risk counties. Those with the lowest rates were Chittenden County (Burlington), VT (one in 73,209 residential properties faced possible foreclosure); Johnson County (Overland Park), KS (one in 25,211); Dane County (Madison), WI (one in 25,042); Medina County, OH (outside Akron) (one in 18,785) and Alexandria City/County, VA (one in 13,376).

The June 2024 unemployment rate was less than 4 percent in all of the least-at-risk counties. The lowest rates among those counties were in Chittenden County (Burlington), VT (1.9 percent); Arlington County, VA (2.2 percent); Merrimack County (Concord), NH (2.2 percent); Cass County (Fargo), ND (2.3 percent) and Cumberland County (Portland) ME (2.3 percent).

Report methodology
The ATTOM Special Market Impact Report is based on ATTOM’s second-quarter 2024 residential foreclosure, home affordability and underwater property reports, plus June 2024 unemployment figures from the U.S. Bureau of Labor Statistics. (Press releases for affordability, foreclosure and underwater-property reports show the methodology for each.) Counties with sufficient data to analyze were ranked based on the second-quarter percentage of residential properties with a foreclosure filing, the percentage of average local wages needed to afford the major expenses of owning a median-priced home and the percentage of properties with outstanding mortgage balances that exceeded their estimated market values, along with June 2024 county-level unemployment rates. Ranks then were added up to develop a composite ranking across all four categories. Equal weight was given to each category. Counties with the lowest composite rank were considered most vulnerable to housing market problems. Those with the highest composite rank were considered least vulnerable.

About ATTOM
ATTOM provides premium property data and analytics that power a myriad of solutions that improve transparency, innovation, digitization and efficiency in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation’s population. A rigorous data management process involving more than 20 steps validates, standardizes, and enhances the real estate data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 30TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions that include ATTOM Cloud, bulk file licenses, property data APIs, real estate market trends, property navigator and more. Also, introducing our newest innovative solution, making property data more readily accessible and optimized for AI applications– AI-Ready Solutions. 

Media Contact:
Megan Hunt
megan.hunt@attomdata.com

Data and Report Licensing:
datareports@attomdata.com

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SOURCE ATTOM

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MD Revolution Unveils RevConnect Workflow: Revolutionizing Patient Care Through Seamless Integration

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January 9, 2025

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MD Revolution has launched RevConnect Workflow, an embedded low-code/no-code integration platform that enables healthcare organizations to seamlessly connect any AI model, analytics tool, or application with the RevCare care management platform. Available now for both full-service and software-as-a-service customers, RevConnect Workflow can be implemented either through MD Revolution’s managed services team or accessed directly by customers to build and manage their own integrated workflows.

SAN DIEGO, Jan. 9, 2025 /PRNewswire-PRWeb/ — MD Revolution, a leader in remote patient monitoring and care management, is proud to announce the launch of its groundbreaking new product offering, RevConnect Workflow. Designed to set a new standard in healthcare technology, RevConnect Workflow is a low-code/no-code integration platform that empowers organizations to seamlessly connect any application, API, or automated workflow to the RevCare care management platform. RevConnect Workflow is available now for MD Revolution’s full-service and software-as-a-service customers.

The Most Extensible Care Management Platform

With RevConnect Workflow, the RevCare platform becomes the most extensible care management solution on the market. By leveraging RevConnect APIs and an embedded integration engine, RevConnect Workflow simplifies and accelerates non-EHR integrations, driving dynamic, personalized patient care that evolves in real time.

RevConnect Workflow enables seamless connections between RevCare and any AI model, third-party CRM, or analytics tool for timely, patient-centric care. This capability on top of our existing integrations creates endless possibilities for data-driven care.” – Kyle Williams, CEO

“RevConnect Workflow enables seamless connections between RevCare and any AI model, third-party CRM, or analytics tool, unlocking new possibilities for delivering timely, patient-centric care.” said Kyle Williams, CEO of MD Revolution. “Adding this capability on top of our RevConnect EHR Integrations, device connections and OpenAPI unlocks endless possibilities for data-driven care.”

AI-Powered Insights for Better Outcomes

One compelling example of RevConnect Workflow in action is its integration with a third-party AI patient recommendation engine. By connecting this AI model to the RevCare platform, the workflow integration tool processes real-time insights to generate actionable clinical and patient tasks and alerts. This real-time data exchange enhances care team decision-making and improves patient outcomes.

“Our strategy is to let customers harness the power of any AI model directly within RevCare to deliver more informed, personalized care at scale.” said Michael Moore, Chief Product Officer. “The ability to integrate AI-driven recommendations without complex coding ensures RevCare addresses the demands of today while laying the groundwork for tomorrow’s innovative care.”

Seamless Integration Across Systems

RevConnect Workflow’s capabilities extend far beyond AI. It enables seamless integration with any third-party system, including CRMs and advanced analytics platforms. By breaking down data silos, healthcare organizations can create a unified ecosystem where every application and system works in harmony to support patient care.

Key Benefits of RevConnect Workflow Include:

Low-Code/No-Code Functionality: Simplifies integration for IT teams, reducing deployment time and complexity.Real-Time Task Automation: Transforms insights into actionable tasks instantly within the RevCare platform.Flexibility: Connects with any application, API, or system, offering unparalleled adaptability.Enhanced Care Delivery: Drives personalized, proactive care through seamless data and workflow integration.

Immediate Availability

RevConnect Workflow is embedded within the RevCare platform, offering two flexible implementation paths. Organizations can either leverage MD Revolution’s managed services team to create and maintain their custom workflows and integrations, or they can access the low-code/no-code tools directly to build and manage their own integrated workflows. This approach ensures all RevCare customers can take advantage of powerful integration capabilities while choosing the support model that best fits their needs and technical capabilities.

For more information about RevConnect Workflow or to schedule a demonstration, please reach out at mdrevolution.com/contact.

About MD Revolution

MD Revolution is transforming patient care through its remote care management platform that seamlessly integrates with an ecosystem of EHRs, data partners, and devices to power comprehensive remote care for large practices, health systems and healthcare organizations. MD Revolution offers RevCare, a software as a service platform, and RevUp, an end-to-end program, including a clinical care team to manage remote care as an extension of the practice. MD Revolution powers programs for Chronic Care Management, Remote Patient Monitoring, Advanced Primary Care Management, Transitional Care Management, Remote Therapeutic Monitoring, Annual Wellness Visits and more.

Media Contact

Jere Halligan, MD Revolution, 1 6199726586, jere@mdrevolution.com, mdrevolution.com

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SOURCE MD Revolution

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Olivine, music and bubbles: a new method to remove CO2 in minutes

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January 9, 2025

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THE HAGUE, the Netherlands, Jan. 9, 2025 /PRNewswire/ — In a breakthrough that combines art, science and music, Dutch inventor Ap Verheggen has discovered a revolutionary method to combat climate change: removing CO2 from the air in minutes instead of decades. In partnership with startup expert Theo Bouts and scientist Dr. Bob Hoogendoorn, Verheggen established Carbon Vanish, a company focused on making this technology widely available.

The project started with a sculpture commissioned by Deltares, an independent knowledge and research institute in Delft. Verheggen created a tree-like installation with olivine to demonstrate its CO2-absorbing properties. Through collaboration with Hoogendoorn, previously a research supervisor at Deltares, they discovered that water with air bubbles over olivine sped up the CO2 absorption process significantly.

“We were surprised by how quickly the process worked,” says Hoogendoorn. Additional experiments showed that vibrations and music further enhanced the reaction. Verheggen’s next artwork used olivine sand in water, where musical tones and vibrations reduced the CO2 concentration in the air to zero within 30 minutes.

“This shows that art and music can contribute to addressing major global challenges,” Verheggen says. “I see many young people losing hope about climate solutions. Through my art, I want to reinvolve them into the discussion. Art is a language everyone understands.”

Carbon Vanish uses olivine and air bubbles to reduce CO2 levels by half within hours. For example, CO2 levels can drop from 411 ppm to 216 ppm (parts per million). The process results in a chalk-like byproduct that can be used in cement production or as agricultural fertiliser.

Read the full story and other news from The Hague on Stories of Purpose: https://storiesofpurpose.thehague.com/impact/carbonvanish-removes-co2-air-olivine-and-music.

About Ap Verheggen
Ap Verheggen is a Dutch artist, living in The Hague, and inventor known for integrating art, science, and technology to address global challenges. His previous artwork, the SunGlacier, an invention to create around 1200 liters of water per day in the desert, has been exposed during World Expo Dubai. Ap is also known because of his sculptures in West Greenland and the documentary about it, IceBerg Riders.

About The Hague & Partners
The Hague & Partners is the official marketing & acquisition organisation for the promotion of The Hague, focused on residents, visitors, conferences, businesses and institutions. https://thehague.com/en 

View original content:https://www.prnewswire.com/news-releases/olivine-music-and-bubbles-a-new-method-to-remove-co2-in-minutes-302346919.html

SOURCE City of The Hague

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Plethy and VBW Join Forces to Transform MSK Healthcare with Data-Driven Innovation

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January 9, 2025

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SAN JOSE, Calif., Jan. 9, 2025 /PRNewswire/ — The rapidly evolving Musculoskeletal (MSK) healthcare landscape demands innovative, cost-effective solutions that empower patients and improve outcomes. Rising to the challenge, Plethy, Inc., a digital health leader, has partnered with Viscogliosi Brothers through its investment office, Viscogliosi Brothers Watermark Holdings (VBW), which is dedicated to investing in MedTech innovation, forming a groundbreaking long-term collaboration. Together, they aim to transform how personalized, data-driven MSK care is delivered, setting a new standard in HealthTech and InsurTech while addressing the critical needs of patients, providers, and payors.

Redefining MSK care with data-driven insights and personalized recovery solutions

As part of this strategic alignment, John J. Viscogliosi will join the Plethy board, bringing his deep expertise in scaling healthcare companies and driving innovation in the MSK space. His involvement highlights both organizations’ commitment to visionary leadership in digital MSK care.

The partnership unites Plethy’s award-winning, data-driven patient engagement platform with VB’s extensive expertise in scaling MSK solutions to meet the demands of payors and providers alike. Together, they are poised to tackle the critical need for cost-effective, personalized care solutions by leveraging cutting-edge technology and data-driven analytics.

Plethy’s solutions align seamlessly with the growing demands of HealthTech and InsurTech markets. Plethy’s current client base includes self-insured enterprises, insurance carriers, state funds, captives, medical groups, and health systems, reflecting the platform’s adaptability across diverse healthcare and insurance sectors. Plethy’s innovative solutions have transformed patient care by enabling engagement at home and providing predictive analytics to empower clinicians for tailored recovery plans. VB complements this with its proven track record of scaling neuromusculoskeletal companies, improving care quality, and reducing costs through strategic investments and healthcare innovations.

Key Benefits of the Partnership:

Empowered Patients and Quality Outcomes: Patients actively engaged in their recovery journey, leading to measurable outcomes that providers and payors expect.

Data-Driven Insights: Real-time recovery analytics for clinicians to monitor progress and make evidence-based, personalized decisions.

Meeting Evolving Payor Needs: The partnership addresses the need for maximizing clinical outcomes while ensuring cost efficiency, accelerating patients’ return-to-life and work.

“This partnership is a testament to how the MSK healthcare landscape is being reshaped to meet the demands of an evolving industry. By aligning VB’s proven adaptability with Plethy’s innovative platform, we are creating a future where personalized, data-driven care defines excellence. Together, we will lead the transformation of digital MSK solutions, ensuring a profound and sustainable impact across the healthcare ecosystem.” said Anthony G. Viscogliosi, Principal of Viscogliosi Brothers, LLC.

“We are excited to partner with Plethy, a leader in digital health. Together, we’ll set new benchmarks in MSK care, delivering quality and efficiency that the healthcare industry demands.” said John J. Viscogliosi, Chairman of the Board of Directors and & Member of the Investment Committee at Viscogliosi Brothers Watermark Holdings.

“This partnership with VBW reinforces our commitment to transforming digital MSK care. By joining forces, we’ll empower clinicians, enhance patient experiences, and achieve impactful outcomes.” said Raja Sundaram, CEO of Plethy, Inc.

“This partnership leverages advanced analytics and personalized care to deliver better outcomes for patients while addressing healthcare’s cost-efficiency demands.” said Kerem Mavituncalilar, CEO of Viscogliosi Brothers Watermark Holdings.

This collaboration solidifies Plethy and VB as leaders in advancing the MSK healthcare industry. Their combined expertise will drive innovation, improve patient outcomes, and deliver system-wide cost reductions, ensuring that digital MSK solutions become a reality across multiple buying centers and payors.

About Plethy, Inc.: Plethy, Inc. is a leading healthcare technology company at the forefront of patient care and recovery analytics for musculoskeletal disorders, pioneering the use of AI to analyze real-time data for comprehensive, personalized care plans. For more information, visit www.plethy.com.

Viscogliosi Brothers, LLC.  (“VB”) is a New York City-based private equity and venture capital firm specializing in the neuromusculoskeletal industry. Established in 1999, the firm focuses on identifying and building groundbreaking innovations in healthcare, aiming to address unmet clinical needs, enhance patient outcomes, and drive cost efficiency in the healthcare system. For more information, visit https://www.vbllc.com/  

Viscogliosi Brothers Watermark LLC (“VBW”) is a New York City-based holding company specializing in investing in innovation within the MedTech sector. Founded in 2022, VBW is committed to creating alternative wealth for its shareholders while enhancing humanity’s well-being. With a portfolio-driven investment mandate and strategic expertise, VBW supports its invested entities through financing and manufacturing capabilities. For more information, visit https://vbwholdings.com/.

Plethy, Inc.:  Brooke Whitebread, brooke@plethy.com, 747-300-7275

Viscogliosi Brothers, LLC: Ceylan Kendir, ceylank@vbwatermarkholdings.com, +90 (532) 476-4343

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SOURCE Plethy, Inc

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