VANCOUVER (The News Desk) — Pricing data released on Monday morning revealed that real estate prices in Vancouver are continuing their precipitous rise despite the fact that the city was destroyed by a 50m-wide iron meteorite on Sunday evening.
The average house price for the month of July shot up by 7.1% compared with the same period in 2015 as the nickel-iron meteorite, travelling at approximately 12.3 kilometers per second, hit Vancouver’s Yaletown neighbourhood and released an estimated 15 megatons of TNT—approximately 1,000 times the energy released by the atomic bomb dropped on Hiroshima, Japan—flattening more than 1,800 square kilometers of detached homes and forest.
“This is especially surprising when you consider last month’s discouraging unemployment numbers and slowing GDP growth,” said Vancouver-based McKinsey analyst Stephanie Wachtell.
“It might look bad, but honestly most of these properties are still a sure bet,” Vancouver realtor Jerry King told press from the lawn of his destroyed home in the city’s Kitsilano neighbourhood.
“When I look at Vancouver today, I see a city that needs densification more than ever before,” prominent real estate developer Bob Rennie told reporters. ♦