By Staff
Friday, July 26, 2024 2:17 PM
The number of million-dollar starter homes is on the rise in cities across the U.S. A
new report from Zillow finds that the number of cities where a starter home is worth $1 million or more has grown from 84 five years ago to 237 today.
According to Zillow, a typical “starter home” is among those in the lowest third of home values in a given region. Five years ago, only 84 cities had starter homes within the $1 million range.
Nationally, the typical starter home is worth $196,611, considered comfortable for a median-income household. As the housing shortage worsened, Zillow reports the price of homes was driven up to record heights.
In the past 5 years, starter home values have grown 54.1 percent more than the 49.1 percent compared to the typical U.S. home in the same time frame. Zillow reported this has delayed first home purchases for many buyers, with the new median age for a first-time home buyer hitting 35 in 2019.
Zillow noted that half of all states have at least one city with a typical starter home worth $1 million or more. California has 117 such cities, followed by New York at 31 and New Jersey at 21. Meanwhile, the New York City metro, which includes parts of New Jersey and Pennsylvania, has the most cities with million-dollar starter homes at 48, followed by San Francisco metro at 44, and the Los Angeles area at 35.
Zillow noted markets with the most restrictive building regulations tend to have more cities with $1 million starter homes and the lowest homeownership rates.
By Staff
Friday, July 26, 2024 12:11 PM
The Fondazione De Rigo H.E.ART Onlus, which is committed to supporting the health and education of young people, announces with pride its involvement in the creation of the first inclusive theme park in Europe to be built within the City of Bologna park in the municipality of Belluno. The project, promoted by Belluno Fire Brigade Recreational Club, will be inaugurated in October 2024.
By Staff
Friday, July 26, 2024 8:05 AM
EssilorLuxottica reports revenue growth, expanding margins for first half of 2024; Kering Eyewear revenue rises for first half of 2024; Bausch + Lomb acquires Trukera Medical; Silmo names Alexis Mabille chairman of 2024 Silmo d’Or Awards; and Topcon and Orbis International expand diabetic retinopathy screening in Rwanda all topped this week’s
VMAIL news feed. Click on the headlines below to catch up on anything you might have missed.
By Staff
Friday, July 26, 2024 12:27 AM
PARIS, France—
EssilorLuxottica announced revenue growth of 5.2 percent for the second quarter of 2024 at constant exchange rate and 5.3 percent for the first half of the year. The company also reported expanding margins and the acquisitions of diagnostic med-tech platform
Heidelberg Engineering and iconic
Supreme brand, as reported in
VMAIL, which were announced on July 17, 2024.
By Staff
Friday, July 26, 2024 12:24 AM
OCEANSIDE, Calif.—Independent premium eyewear brand
Raen has announced the appointment of Jesse Northcott as the company’s new president and chief executive officer. Northcott brings over 10 years of experience in finance and operations across leading industry brands to Raen, the company said.
By Staff
Friday, July 26, 2024 12:21 AM
LONGARONE—
Marcolin has announced the appointment of Andrea Vincenzo Virgilio as the company’s new group operations director, effective July 15, 2024. In this role, the company stated, Virgilio takes charge of the Group’s manufacturing facilities, research and development, product compliance and supply chain departments.
By Staff
Friday, July 26, 2024 12:18 AM
ALEXANDRIA, Va.—
The Vision Council has released its latest research report,
Consumer inSights Q2 2024, offering an in-depth look into U.S. consumers’ opinions and habits concerning vision correction, managed vision care, eye exams, prescription eyewear, reading glasses and plano sunglasses.
By Staff
Friday, July 26, 2024 12:15 AM
NEW YORK—The national average for gross revenue at ECP locations remained flat for the week of July 15 – July 21 when compared with the previous week. That places gross revenue at a level 12 index points above where it was at this point in time (Week 29) when compared with last year (2023), 19 points above the same period in 2022, 25 points above 2021, 22 points above 2020, and 27 points above 2019, according to Jobson’s most recent Practice Performance Tracker.
By Staff
Thursday, July 25, 2024 2:35 PM
CHARENTON-LE-PONT, France; VENICE and MILAN—EssilorLuxottica has wrapped up its 2024 EssilorLuxottica Days experience, an annual, weeks-long event held in Italy across Venice and Milan, giving eyecare practitioners and customers from the U.S. and throughout the world the ability to experience a behind-the-scenes look at the company's eyewear design and manufacturing from start to finish.
By Staff
Thursday, July 25, 2024 1:30 PM
With the Olympics underway, the spotlight is centered on young elite athletes who are experiencing an increasing rate of hip or total knee replacements. According to a
new report from Midwest Orthopaedics at Rush and Rush University Center, and Richard Berger, MD, elite athletes are reaching the limits of their athletic abilities taking a toll on their bodies.
Pointing to recent young athletes who have had joint replacements, Dr. Berger noted younger people are less apprehensive about getting surgeries. Lindsay Vaughn, the only American woman to win an Olympic downhill gold medal, recently announced she had total knee replacement at the age of 39 after contending with injuries and arthritis. Following years of pain and mobility from arthritis, 1984 gymnastics Olympian Mary Lou Retton opted to have her hip replaced at age 37.
He noted at the 2023 Annual Meeting of the
American Academy of Orthopedic Surgeons (AAOS) new data revealed 28 percent of hip replacement procedures are performed on men and women under 55.
The study also found that demand for total hip replacements is expected to increase 174 percent by 2030, and 28 percent of the 572,000 total hip arthroplasty procedures performed annually are in patients under the age of 55.
Long-term participation in elite activities can increase the risk of developing arthritis, which Dr. Berger said can keep individuals from being active and “destroy every aspect of your life.” He added that awareness of the benefits of joint replacement will lead to better long-term health outcomes for athletes.
By Staff
Thursday, July 25, 2024 12:27 AM
PARIS—
Kering Eyewear, part of the global luxury group Kering, has reported revenue of €914 million in the first half of 2024, up 5 percent as reported and up 6 percent on a comparable basis. In the second quarter, Kering Eyewear's sales rose by 3 percent both on a comparable basis and as reported, driven by solid progression of the brands in its portfolio, the Group said. Overall, revenue from the Kering Eyewear and Corporate segment amounted to €1.1 billion for the first half of 2024, mainly attributable to activities of Kering Eyewear and Kering Beauté, the latter including the sales of Creed.
By Staff
Thursday, July 25, 2024 12:24 AM
CHARENTON-LE-PONT, France; VENICE and MILAN—
EssilorLuxottica has wrapped up its 2024 EssilorLuxottica Days experience, giving eyecare practitioners and customers from the U.S. and throughout the world the ability to experience a behind-the-scenes look at the company's eyewear design and manufacturing from start to finish.
By Staff
Thursday, July 25, 2024 12:18 AM
BEND, Ore.—
Osheru, a medical device company specializing in innovative solutions for skin surgery, has completed a $4.7 million funding round to accelerate the development and commercialization of its Ziplyft device for blepharoplasty surgery.
By Staff
Wednesday, July 24, 2024 6:29 PM
In response to the growing concerns about children’s vision health and the effectiveness of current vision screening programs, the Canadian Association of Optometrists (CAO) released an updated position paper on July 18 to address the need for standardized and comprehensive pediatric eyecare.
By Staff
Wednesday, July 24, 2024 10:04 AM
A new survey from Aon (NYSE: AON) finds decision makers feel their businesses aren’t moving fast enough to address risks associated with global megatrends across trade, technology, weather and workforce.
The
Business Decision Maker Survey found that 86 percent of C-suite and business executives across North America, the UK and Europe believe it is important to address the challenges and opportunities presented by these megatrends. Meanwhile, the survey also found that businesses find it harder to make the right decisions amid their growing complexity and volatility.
More than 74 percent of respondents said that their responsibility for supply chain or distribution functions has increased over the last year. Issues such as the economy and financial concerns remain significant trade risks, affecting their ability to manage these megatrends.
AI advancements and data analytics offer businesses additional resources to stay competitive, however, the survey found that these factors are also creating new and evolving risks for businesses. Nearly 63 percent of respondents said they have measured the ROI of cybersecurity initiatives, and 61 percent have audited IT suppliers to manage third-party risks and IT sprawl in the last year.
The survey found modelling climate and weather risks is a particular concern for executives, however, only 39 percent of decision-makers said they are very confident they have accurate data, analytics and insights to protect their businesses. Meanwhile, 59 percent of respondents said they are "very confident" with their ability to have quantified the profit-and-loss of supply chain, cyber risk and weather-related scenarios and events in the last year, compared to just 36 percent of leaders who report they feel less confident they are effectively managing risk exposures.