Los Angeles, CA
Pulte Homes Inc.'s CEO says a new, temporary tax credit for first-time homebuyers signed into law last week is a "shot in the arm" to the housing industry and the builder will help promote it by offering a matching discount.
Richard J. Dugas Jr., president and chief executive of the Bloomfield Hills, Mich.-based builder, announced the plan Monday during a conference call with reporters.
The housing stimulus law provides first-time homebuyers a $7,500 tax credit that amounts to an interest-free loan payable over 15 years.
Builders are counting on the tax credit to lure homebuyers back into the market.
Dugas said his company would extend the matching discount to all buyers. Full details of the plan will be released Tuesday.
By: Alex Veiga
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