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. She also contributes her real estate expertise to NBC's "Today" and "NBC Nightly News with Brian Williams."
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.
Today's jobs reported includes an unexpected bonus for the commercial real estate market. Nope, not in construction; that industry shed 53,000 more jobs in December. Total now, 1.6 million construction workers out of work since the recession began, creating an effective unemployment rate of 22.7% for them.
Commercial MBS delinquencies rise 502 percent from a year ago to 6.07 percent. Hotel CMBS delinquencies jump 900 percent to nearly 14% of all loans in default. Those are just a few ridiculous stats that I need to throw out to preface today's premise that commercial real estate is a buy.
All it took was one bad home sales report (Pending Home Sales Index from the National Association of Realtors Tuesday) to turn the tide of sentiment from ebullient housing recovery to double dip doom.
Nothing better than jumping into work after vacation and settling right into an argument over what works better to prevent housing bubbles: Regulation or monetary policy? It all started with Fed Chairman Ben Bernanke, and his conclusion in a speech made at the annual meeting of the American Economic Association in Atlanta yesterday.
There is a lot of confusion out there today over how the first time home buyer tax credit extension figures into the Commerce Department's report on sales of new construction. "New Home Sales," as we call it, plummeted 11 percent, quite unexpectedly, after another rise in "Existing Home Sales" yesterday.
I've already written a lot about investors in Las Vegas coming in with cash and pushing the organic buyers to the sidelines. Well apparently it's happening all over now, making me wonder just what exactly is going to happen to all those investor-owned properties?