Posted on 05/28/2007 12:46:27 PM PDT by Daffynition
Real estate is often a long-term investment. But 10,000 years? Lo'ihi Development Co. will soon start offering oceanview lots speculators won't even be able to stand on for many millennia. That's because they're currently submerged more than 3,000 feet below sea level — on an underwater volcano called Lo'ihi, located about 20 miles southeast of the Big Island.
His Web site will be renovated in the next couple of weeks to officially begin selling parcels for an introductory price of $39.95. Buyers will receive a brochure and a "deed," but much like Internet groups that claim to sell stars, they probably can't call themselves owners.
"What's the scam?" said Norm Nichols, co-developer of the online venture. "If you really think there's something here that you can't live with, nobody's forcing you to buy it. It's meant to be fun."
The Web site advertises, "Lo'ihi Seaview Estates: Real Estate for the Future. Grand Water View Front Lots." A photo of the sales office is a raft in the middle of the ocean.
Nichols and his business partner, Linda Kramer, both Honolulu entrepreneurs, envision online chat rooms and newsletters to discuss everything from street names to what kind of government to install. They want to hold a "homeowners association" meeting — a boat ride over the volcano — every April Fool's Day.
Scientists don't really know when, or if, Lo'ihi will break the surface of the Pacific Ocean. Many guess about 10,000 years, but it could be much longer than that.
Stephen Levins, head of the state consumer affairs office, said the offer could be a problem if it were serious. "However, if the Web site is clear it's a parody and you're not going to be receiving an actual interest in real estate, that's something else," he said.
Purchase a few lots now - in 11,000 years you’ll be glad you did.
Brings to mind all the craze over “pet rocks”! Remember that one?
That and deeds on the moon, and mars.
I have two neighbors homes that I would like to sell.
Your cyborg-clone self will be glad you invested for the future.
I am starting a business that will be working on the Y10K problem, where the computer dates will be going from 4 digits (2007) to 5 digits (10006).
This is a startup venture and shares in my company are selling real cheap right now.
I’m in. I knew those COBOL classes would come in handy.
The summit of Lo`ihi is marked by a caldera-like depression 2.8 km wide and 3.7 km long. Three collapse pits or craters occupy the southern part of the caldera; the most recent pit formed during an intense earthquake swarm in July-August 1996. Named Pele's Pit, the new crater is about 600 m in diameter and its bottom is 300 m below the previous surface! Like the volcanoes on the Island of Hawaii, Lo`ihi has grown from eruptions along its 31-km-long rift zone that extends northwest and southeast of the caldera.
Summary of 1996 Activity
Description of the intense earthquake swarm in July-August 1996 and the changes observed in Lo`ihi's summit caldera; prepared by scientists of the Hawai`i Center for Volcanology, School of Ocean and Earth Science and Technology, University of Hawai`i Manoa. More than 4,000 earthquakes were recorded by HVO's seismic network during this swarm.
Summary of Lo`ihi activity reported in the monthly Bulletin of the Global Volcanism Network, Smithsonian Institution. All information contained in these reports is preliminary and subject to change.
Hawaiian Meaning
The name Lo`ihi means "long" in Hawaiian and was introduced in 1955 to describe the elongate shape of the seamount.
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Location 18.92 N 155.27 W Elev. Below Sea Level Volume
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Height Above Sea Floor
Lo`ihi is built on the seafloor that slopes about 5 degrees beneath the seamount. Lo`ihi's northern base is 1,900 m below sea level, whereas its southern base is 4,755 m below sea level. Thus, the summit is about 931 m above the seafloor as measured from the base of its north flank and 3,786 m above the seafloor as measured from the base of its south flank.
Most Recent Activity
Earthquake Swarm (>4,000 events), July 16-August 9, 1996
Hawaiian Volcano Stage
In transition between pre-shield and shield stage
Malahoff, Alexander, 1987, Geology of the summit of Lo`ihi submarine volcano, in Decker, R.W., Wright, T.L., and Stauffer P. H., (eds.), Volcanism in Hawaii: U.S. Geological Survey Professional Paper 1350, p. 133-144.
The 1996 Lo`ihi Science Team, 1997, Researchers rapidly respond to submarine activity at Lo`ihi volcano, Hawaii: EOS, Transactions, American Geophysical Union, v. 78, no. 22, June 3, 1997, p. 229-233.
That’s cool! Entrepreneurship is what makes America great (among other things.)
I'll bet this group gets takers ... the "star registry" is so yesterday.
HAHAHA! Hold the anchovies!!!!
I was thinking more of a Whitewater Development in Arkansas.
At least, when you bought a Pet Rock, you knew what you were getting!
;-)
Why is everybody down on the pet rocks? My pet rock would roll over (down the stairs), sit, stay, and attack.
She wasn’t high class, everybody took her for granite.
She had a litter of pebbles.
Her husband did not lava her, because she was hard hearted.
But could he swim?
Or even tred water???
;-)
Yes, but the pet rock has the same “value” as the 1,000 yr old real estate. Absolutley “ZERO”. That was my point. ;o)
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