Massive home builders to merge

Image by Flickr user Image by 20090409-construction.jpg

Pulte Homes is planning to buy competing homebuilder Centex Corp. in a deal valued at $3.1 billion.

As you might expect, the companies are merging to help weather the downturn in the housing market.

While Pulte is a relative newcomer to Charleston, Centex has developed 21 Charleston communities.

The San Antonio Business Journal has a good write-up about the business angle of it, while The Post and Courier does a good job at talking about the local impact.