Taking Care of Future Generations

I love my family! I love being with them and doing things for them! I want to do whatever I can to provide for my children even after I'm gone.

But, have you heard about this?

In Hawaii, land is being sold for only $40! Wow! Wouldn't you love a chunk of Hawaii for $40?! The catch is that the land won't exist for another 10,000 years! The land is not above water yet!

I first heard about this on a news channel and had the impression that someone was actually trying to market this future land. However, this article from the Associated Press makes it clear that this is just for fun. I like the idea of the boat ride homeowner's association meetings!

$39.95 for Hawaii real estate: Waterfront is still underwater
By JAYMES SONG
The Associated Press
HONOLULU — Real estate is often a long-term investment. But 10,000 years?
Lo'ihi Development Co. will soon start offering ocean-view lots that 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, about 20 miles southeast of the Big Island.
The company's 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 "deed," but as with Internet groups claiming to sell stars, they probably can't call themselves owners.
"What's the scam?" asked 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 (http://www.petroglyphs.com/loihi/default.htm) advertises, "Lo'ihi Seaview Estates: Real Estate for the Future. Grand Water Front View Lots." A photo of the sales office is a raft in the middle of the ocean.
Nichols and 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 set up. They want to hold a "homeowners association" meeting — a boat ride over the volcano — every April Fools' 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 take 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.
Copyright © 2007 The Seattle Times Company