Exhibit 12

PULTE HOMES, INC.

RATIO OF EARNINGS TO FIXED CHARGES

($000’s omitted)

	Years Ended December 31,
	2008			2007			2006			2005			2004
Earnings:
Income (loss) from continuing operations before income taxes	$	(1,682,599	)	$	(2,496,903	)	$	1,082,728		$	2,277,014		$	1,592,324
Add:
Fixed charges		255,621			295,130			316,596			274,156			231,252
Amortization of capitalized interest		210,709			314,998			255,688			179,585			133,049
Subtract:
Capitalized interest		(220,131	)		(240,000	)		(261,486	)		(185,792	)		(156,056	)
Distributions in excess (less than) earnings of affiliates		14,580			39,038			4,814			10,670			(21,625	)
Income as adjusted	$	(1,421,820	)	$	(2,087,737	)	$	1,398,340		$	2,555,633		$	1,778,944
Fixed Charges:
Interest expensed and capitalized	$	229,157		$	260,348		$	290,282		$	250,026		$	212,418
Portion of rents representative of interest factor		23,810			23,336			25,889			24,130			18,834
Interest expense related to guaranteed debt of 50% or less owned affiliated (a)		2,654			11,446			425			—			—
Fixed Charges	$	255,621		$	295,130		$	316,596		$	274,156		$	231,252
Ratio of earnings to fixed charges (b)		—			—			4.42			9.32			7.69

Note: The ratios of earnings to fixed charges set forth above are computed on a total enterprise basis, except for our discontinued thrift operations, Mexico homebuilding operations, and Argentina operations, which have been excluded. Fixed charges is comprised of interest incurred, which includes imputed interest associated with the guaranteed debt of our 50% or less owned affiliates, as well as a portion of rent expense, which represents the estimated interest factor and amortization of debt expense.

(a) Includes imputed interest related to certain guaranteed joint venture debt for which we have made or expect to make cash expenditures.

(b) Earnings for years ended December 31, 2008 and 2007 were inadequate to cover fixed charges. Additional earnings of $1.7 billion and $2.4 billion, respectively, would have been necessary to bring the ratio to 1.0.