Diana Olick is an Emmy Award-winning journalist, currently serving as CNBC's real estate correspondent as well as the author of the Realty Check section on CNBC.com, which won the Gracie Award for "Outstanding Blog" in 2015. She also contributes her real estate expertise to NBC's "Today" and "NBC Nightly News."
Prior to joining CNBC in 2002, Olick spent seven years as a correspondent for CBS News.
Olick began her career as a local news reporter at WABI-TV in Bangor, Maine; WZZM-TV in Grand Rapids, Mich.; and KIRO-TV in Seattle. She joined CBS in 1994 as a New York-based correspondent for the "CBS Evening News with Dan Rather" and "The Early Show." She also contributed pieces to "48 Hours" and "Sunday Morning." During that time, she covered such stories as the World Trade Center conspiracy trial and the Boston abortion clinic shooting.
In 1995, Olick was assigned to cover the Midwest as a Dallas bureau correspondent. In the three years she was there, she covered all forms of natural disaster, including the crash of TWA Flight 800, the JonBenet Ramsey murder mystery and was the exclusive correspondent for the trial of Oklahoma City bomber Terry Nichols. During that time, she also took a temporary assignment in CBS' Moscow bureau, where she chronicled the brief presidential campaign of Mikhail Gorbachev.
In 1998, Olick was reassigned to the New York bureau and then immediately posted to Bahrain for the buildup to a possible second Gulf War. A year later, she went to Albania to cover the U.S. military buildup during the conflict in Kosovo.
Upon her return, Olick was reassigned to CBS' Washington bureau and the Capitol Hill beat. During Campaign 2000, Olick covered the Senate campaign of First Lady Hillary Rodham Clinton and later joined the Bush campaign as a special correspondent for "The Early Show." That fall, she was named Supreme Court correspondent; her first case was Bush v. Gore.
Olick has a B.A. in comparative literature with a minor in soviet studies from Columbia College in New York and a master's degree in journalism from Northwestern's Medill School of Journalism.
Follow Diana Olick on Twitter @Diana_olick.
Amid all the doom and gloom, it is hard for many think of real estate as anything other than a money pit; for some, however, it is an opportunity, and, hopefully, a well of profit to be tapped. It's the optimistic, even opportunistic, side we're focusing on in our annual special report, "Investor Guide to Spring Real Estate".
Despite the fact that banks claim they are ramping up repossessions again and refiling foreclosure documents, the numbers don't appear to prove that. Foreclosure filings fell 14 percent in February month to month and fell 27 percent year over year. That is the largest annual drop since RealtyTrac began running the numbers in 2005.
It's not like we didn't already know the banks were opposed to forgiving principal on troubled loans, even though they claim they are doing a little of that now. But today CNBC's Melissa Francis got an earful from JPMorgan Chase's Charlie Scharf, CEO of Retail Financial Services.
Falling home prices at the turn of the year pushed more borrowers into a negative equity position, meaning they owe more on their mortgages than their homes are worth. In Q4, 23 percent of borrowers nationwide, or 11.1 million, were holding "underwater" mortgages according to a new survey.
There is no multi-billion dollar fund or penalty and there is no word from Federal Regulators as to how the banks will ultimately "fix" the foreclosure paperwork issues...But a meeting here in DC of the fifty state attorneys general was too good to pass up for a couple of hundred protesters demanding action.
You probably don't think of unrest in the far away Middle East as having anything to do with the housing market here in the U.S. You should. The weekly mortgage applications say it all.