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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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.”
After reading all the glowing press releases from all the government-created initiatives to save troubled borrowers, and all the successes they’re touting, I was pretty surprised to read the latest data on California foreclosures. I didn’t expect the problem to go away, but I did expect the numbers to ebb ever so slightly. But no...
The Realtors told a room full of reporters Tuesday that existing home sales are “stable,” because they’re really stuck between 4.9 and 5.1 million units (that’s the seasonally adjusted annual rate). So that has everyone asking if we’re bumping along the bottom. I’m not so sure.
I've heard a lot anecdotally about home equity lines being frozen for no apparent reason, so when I got this email from Charles in Chicago, I just had to post it. Citibank actually lowered his line of credit to $116 below his current balance.
On TV today I’m telling the story of the city of West Palm Beach’s effort to save troubled borrowers. They’ve pulled together about a million dollars from a fund that was supposed to be for affordable housing as well as some HUD money, and opened a foreclosure assistance center right downtown.
While some of you may wonder why a home builder would even want to hammer a nail these days, they do still need to stay in business, and their business is to build. That said, there is new concern from builders today that the credit crunch on Wall Street is hitting small builders where they live, or at least where they want you to live.
An interesting tidbit from this month's RealtyTrac foreclosure report. The online service provides data on default notices, auction notices and bank reposessions, as well as lists foreclosed properties for a fee.