Early Afternoon Update

Dolly Lenz doesn’t see panic at all in the New York housing market. Is she right? [NY Post]

A Manhattan real estate lawyer faces 15 years in prison for stealing a condo down payment. [NY Post]

Luxury home builder Toll Brothers took large write-downs in fourth quarter amid plunging sales. [WSJ]

Fed Chairman Ben Bernanke urged government to take sweeping steps to curb foreclosures. [WSJ]

Meanwhile, the Treasury considers a plan to push down interest rates for home loans. [WSJ]

Early Afternoon Update