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.
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I’m doing a story on jumbo loans today and how their price and availability are affecting the million-dollar home buyers. In the course of my research, I decided to take a look at Greenwich, CT, one of my favorite enclaves of multi, multi-million-dollar homes.
Before Democrats could even utter the words, “housing,” “rescue,” “FHA” or “predatory,” President Bush had already let the threat fly: “I will veto the bill that's moving through the House today if it makes it to my desk.” Nuff said, Sir.
I have to say I never really bought the so-called “recovery” in the homebuilder stocks that we saw at the beginning of the year. There was a lot of talk of a “bottom” in the stocks, despite the fact that nobody is ready to call a bottom in the housing market.
I want to talk about a huge number: 457,000. That’s the number of construction jobs that have been lost since the sector peaked in September of 2006. What’s interesting to me about this number is that at the beginning of the downturn in housing we didn’t see a huge drop in construction jobs, primarily because workers moved from residential into commercial.
I went up to Capitol Hill this morning because about 1,200 members of the National Association of Home Builders are taking their annual day of action up here. It couldn't be more timely, as several bills are working their way through Congress to help builders and borrowers alike and to right the housing market.
I want to bring your attention to a disturbing little sub-number in today’s quarterly foreclosure report from California-based RealtyTrac. RealtyTrac reports “foreclosure activity,” which covers default notices, auctions sale notices and bank repossessions.
Tomorrow the folks at S&P/Case Shiller will report the monthly prices in the nation’s top ten and top twenty metro markets. Every time I report these numbers I get any number of critics arguing that the fall in home prices is really concentrated in only a few large cities in the nation, most of them in California and Florida.
It makes a whole lot of sense. When food prices soar, seed sales begin to grow. Harold Stone is hearing it from a whole new crop of gardeners at a Washington, DC community garden that he runs. “Food is just becoming astronomical and they really want to get an edge on that and be able to create some of their own food.”