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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So what do you do if you’re a developer and the credit crunch is keeping your potential customers away? Well, how about giving buyers the loan yourself! That’s precisely what the developers of a posh Harlem condo building are doing.
The idea is that instead of trying to sell your home in a down market, waiting perhaps months and months and lowering the price, thereby lowering your potential buying power for the next home, you simply find someone who has something you want, and you trade.
In the midst of reporting earnings from KB Home and Lennar this week, neither of which were particularly pretty, I saw a press release for an auction in Houston that tweaked my interest. The title reads: Greater Houston Real Estate Auction: Sign of the Times.
New home sales in May fell 2.5 percent, and everyone is now wondering if rising gas prices are adding fuel, so to speak, to the meltdown in housing. A big article in the New York Times today features a few families who claim it just isn't worth living in the suburbs anymore.
S&P C-S looks at prices in the top ten and top twenty markets, and those indexes are down 16.3 percent and 15.3 percent respectively on an annual basis for April. The OFHEO index shows prices nationwide down 4.7 percent from a year ago.
Bob Toll doesn't buy the numbers from Commerce. The CEO of Toll Bros. says there's no way new home sales are running as high as the census bean counters claim because they don't include cancellations which are still running around 30 percent.
CFO Bill Wheat says they want to sell $400 million worth of land, the bulk of it in Florida, California, Arizona and New Mexico. That would get them to a three year supply.