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The New York Observer

Early Afternoon Update

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December 4, 2008 | 11:39 a.m.

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]

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