American Company Sells Nonexistent Real Estate

Real estate is often a long-term investment... but 10,000 years? A American company known as "Lo'ihi Development" plans to 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 located about 20 miles southeast of Hawaii.

They will begin selling "land" soon. Buyers will receive a brochure and a "deed", but buyers won't be able to call themselves owners.

When asked about the venture, co-developer Norm Nichols said: "What's the scam? ... If you really think there's something here that you can't live with, nobody's forcing you to buy it."

A photo of the sales office on the company logo is a raft in the middle of the ocean.

Nichols wants to hold a "homeowners association" meeting � a boat ride over the volcano � every April Fool's Day.

On a real science note, scientists don't really know when, or if, the volcano will break the surface of the Pacific Ocean. Many guess about 10,000 years, but it could be much longer than that.

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