Friday, May 24, 2013

Pitcairn Lt Bligh

 
The Mutiny on the Bounty was a mutiny aboard the British Royal Navy ship HMS Bounty on 28 April 1789. The mutiny was led by Fletcher Christian against commanding officer Lieutenant William Bligh. According to most accounts, the sailors were attracted to the idyllic life on the Pacific island of Tahiti and were further motivated by harsh treatment from their captain.

Eighteen mutineers set Lieutenant Bligh afloat in a small boat with eighteen of the twenty-two crew loyal to him. The mutineers then variously settled on Pitcairn Island or in Tahiti and burned the Bounty off Pitcairn Island, to avoid detection and to prevent desertion.

 Bligh navigated the 23-foot (7 m) open launch on a 47-day voyage to Timor in the Dutch East Indies, equipped with a quadrant and pocket watch and without charts or compass. He recorded the distance as 3,618 nautical miles (6,710 km). He then returned to Britain and reported the mutiny to the Admiralty on 15 March 1790, 2 years and 11 weeks after his original departure.

The British government dispatched HMS Pandora to capture the mutineers, and Pandora reached Tahiti on 23 March 1791. Four of the men from the Bounty came on board soon after its arrival, and ten more were arrested within a few weeks. These fourteen were imprisoned in a makeshift cell on Pandora's deck. Pandora ran aground on part of the Great Barrier Reef on 29 August 1791, with the loss of 31 of the crew and four of the prisoners. The surviving ten prisoners were eventually repatriated to England, tried in a naval court with three hanged, four acquitted and three pardoned.
Descendants of some of the mutineers and Tahitians still live on Pitcairn
Island;   with only 50 residents, whose ancestors – crew on the HMS Bounty – were so taken with the island that they mutinied and burned their own ship. Their postage stamps are rare and expensive since collectors have to hop on a boat from New Zealand for a ten-day voyage in order to buy them.

Thursday, May 2, 2013

In Sacramento’s case, prices will grow faster than just about anywhere else in the country.

Home prices in Sacramento have reached the highest levels in 11 years and are expected to grow faster than nearly every other place in America this year.
Zillow forecasts Sacramento will see the second largest rise in home prices — nearly 12 percent in 2013. In fact, with the exception of Phoenix, California occupies all the top seven spots.
A shortage of houses for sale is driving up prices and making this a hot seller’s market. A home we went to in Natomas sold for $259,000 in just 48 hours to a foreign investment group.
“Any time the value of homes go up, people that own houses are going to benefit,” said real estate investor Rich Crosby.
Sacramento home values started picking up last year and the Zillow estimate of another 12 percent increase will only keep investors in the market. They’re competing with an increase in buyers for the low number of houses on the market.
“So you have low interest rates, you have down payment assistance and you have a lack of inventory, which is causing a surge in the market,” said a realtor Michael Sandoval.
Real estate analysts say the surge is more of a bounce back from the housing crash (really).. Some Sacramento-area homes lost more than half their value. The hardest-hit neighborhoods are seeing the biggest rebound. Natomas, Elk Grove, Lincoln and Roseville top the list.
“Houses like this probably in their heyday were $450,000-$500,000. Now we’re looking at maybe $300,000, $350,000 at the most,” said Crosby.
Real estate investment companies like Rich Crosby’s are often the buyers, paying cash to rent or flip the homes. And they argue they bring up prices for the neighborhood.
“We can sell the house more than that short sale can, which inevitably brings up the value of the houses around it. It’s a win-win, really,” said Crosby.
But the investors are criticized for crowding out other buyers — even those with 20 percent down who can’t compete with cash offers. The lesson in economics 101 is simple: as long as there’s more demand than supply, home prices are expected to creep up.
In Sacramento’s case, prices will grow faster than just about anywhere else in the country.