Pulte's Big Deal
Big news in the housing business this week: Pulte Homes intends to buy Centex Homes for $1.3 billion in stock. The deal would create the nation's largest homebuilder. As the Wall Street Journal points out, this is a bet the housing downturn may be near bottom.
Both companies have multiple golf developments in their portfolios. Pulte is the company behind the Del Webb retirement communities, among many others. Centex's projects include Barefoot Landing in Myrtle Beach (pictured).