git installation fails in home directory on ubuntu 12.04

[Stefan Beller <stefbel@web.de>]

So I did
git fetch
git rebase
git describe
v1.7.12-503-g5976753

./configure --prefix=/home/sb
make
make install
    GEN perl/PM.stamp
    SUBDIR gitweb
    SUBDIR ../
    SUBDIR perl
make[1]: `perl.mak' is up to date.
make[2]: `GIT-VERSION-FILE' is up to date.
    GEN git-instaweb
    SUBDIR git-gui
    SUBDIR gitk-git
make[1]: Nothing to be done for `all'.
    SUBDIR perl
    SUBDIR git_remote_helpers
    SUBDIR templates
install -d -m 755 '/home/sb/bin'
install -d -m 755 '/home/sb/libexec/git-core'
install   git-credential-store git-daemon git-fast-import
git-http-backend git-imap-send git-sh-i18n--envsubst git-shell
git-show-index git-upload-pack git-http-fetch git-http-push
git-credential-cache git-credential-cache--daemon git-remote-http
git-remote-https git-remote-ftp git-remote-ftps git-am git-bisect
git-difftool--helper git-filter-branch git-lost-found git-merge-octopus
git-merge-one-file git-merge-resolve git-mergetool git-pull
git-quiltimport git-rebase git-repack git-request-pull git-stash
git-submodule git-web--browse git-add--interactive git-difftool
git-archimport git-cvsexportcommit git-cvsimport git-cvsserver
git-relink git-send-email git-svn git-remote-testgit git-p4 git-instaweb
'/home/sb/libexec/git-core'
install -m 644  git-mergetool--lib git-parse-remote git-rebase--am
git-rebase--interactive git-rebase--merge git-sh-setup git-sh-i18n
'/home/sb/libexec/git-core'
install git git-upload-pack git-receive-pack git-upload-archive
git-shell git-cvsserver '/home/sb/bin'
make -C templates DESTDIR='' install
make[1]: Entering directory `/home/sb/OSS/git/templates'
install -d -m 755 '/home/sb/share/git-core/templates'
(cd blt && tar cf - .) | \
	(cd '/home/sb/share/git-core/templates' && umask 022 && tar xof -)
make[1]: Leaving directory `/home/sb/OSS/git/templates'
install -d -m 755 '/home/sb/libexec/git-core/mergetools'
install -m 644 mergetools/* '/home/sb/libexec/git-core/mergetools'
install -d -m 755 '/home/sb/share/locale'
(cd po/build/locale && tar cf - .) | \
	(cd '/home/sb/share/locale' && umask 022 && tar xof -)
make -C perl prefix='/home/sb' DESTDIR='' install
make[1]: Entering directory `/home/sb/OSS/git/perl'
make[2]: Entering directory `/home/sb/OSS/git/perl'
Appending installation info to /usr/local/lib/perl/5.14.2/perllocal.pod
mkdir /usr/local/lib/perl: Permission denied at
/usr/share/perl/5.14/ExtUtils/Command.pm line 288
make[2]: [doc_site_install] Error 13 (ignored)
/bin/sh: 1: cannot create /usr/local/lib/perl/5.14.2/perllocal.pod:
Directory nonexistent
make[2]: [doc_site_install] Error 2 (ignored)
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
ERROR: Can't create '/usr/local/share/man/man3'
mkdir /usr/local/share/man/man3: Permission denied at
/usr/share/perl/5.14/ExtUtils/Install.pm line 494

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
 at -e line 1
make[2]: *** [pure_site_install] Error 13
make[2]: Target `install' not remade because of errors.
make[2]: Leaving directory `/home/sb/OSS/git/perl'
make[1]: *** [install] Error 2
make[1]: Leaving directory `/home/sb/OSS/git/perl'
make: *** [install] Error 2