Early Afternoon Update

New City Council legislation would hike the city’s tax on hotel rooms from 5 percent to 5.875 percent. [GlobeSt]

Don Trump says the market hasn’t bottomed out yet. [Wharton via TRD]

Bronx Beep Carrion not talking about possible housing post in Obama administration. [PolitickerNY]

City Comptroller Thompson has "real questions" about Yankee Stadium deal. [PolitickerNY] Early Afternoon Update