The database cluster initialisation failed

Hi
I am installing postgresSql 9.2 on redhat and I encountered the following error:
The database cluster initialisation failed

Looking at the installation log file I noticed the following errors (below)

I tried to connect as postgres user my self and indeed I got the error described below, it seems like the user postgres home directory was /db/PostgreSQL/9.2/ which is the path I provided for the postgres installation
but this path does not contain .bash files. They are still located in the /home/postgres directory.

How can that be? How should I fix it?
Thanks
Ron

"Initialising the database cluster (this may take a few minutes)...
Executing /db/PostgreSQL/9.2/installer/server/initcluster.sh "postgres" "postgres" "****" "/db/PostgreSQL/9.2" "/db/PostgreSQL/9.2/data" 5432 DEFAULT
Script exit code: 1

Script output:
Failed to initialise the database cluster with initdb

Script stderr:
su: warning: cannot change directory to /db/PostgreSQL/9.2: Permission denied
-bash: /db/PostgreSQL/9.2/.bash_profile: Permission denied
-bash: /db/PostgreSQL/9.2/bin/initdb: Permission denied

Error running /db/PostgreSQL/9.2/installer/server/initcluster.sh "postgres" "postgres" "****" "/db/PostgreSQL/9.2" "/db/PostgreSQL/9.2/data" 5432 DEFAULT : su: warning: cannot change directory to /db/PostgreSQL/9.2: Permission denied
-bash: /db/PostgreSQL/9.2/.bash_profile: Permission denied
-bash: /db/PostgreSQL/9.2/bin/initdb: Permission denied
Problem running post-install step. Installation may not complete correctly
The database cluster initialisation failed.
"