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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A curious report this morning from the U.S. Dept. of Commerce: New homes sales fell 0.6% in June from the month before. Why curious? Because all the numbers in the game changed.
While everyone busies themselves today parsing the existing homes data from the National Association of Realtors: sales down 2.6 percent in June, inventories spiking up again to an 11.1 month supply, and prices falling 6.1 percent, I need to focus on something that wasn’t in the table of this particular report.
First I have to apologize. I honestly thought this was something of a stunt. I got a press release from the Neighborhood Assistance Coalition of America (NACA) last week about a 5 day event they would be holding in DC to help troubled borrowers restructure their loans.
Early on, sellers were offering a flat screen with a sale, maybe even a one-year car lease. A month ago I started hearing about builders giving away gas cards if you come for a look. Now one developer is offering a smart-car with the sale, just to ease your fears of buying a home too far from public transportation.
Call it an infusion of capital into the Florida real estate market, and, more precisely, into Donald Trump’s pocket. A Russian fertilizer mogul offers $95 million for Trump’s Palm Beach estate and the Donald says, “Da,” even though it’s a tad below his original asking price of $125 million.
So Fannie and Freddie come back from the brink, Indy goes under, warnings of more bank failures hit the newswires, and homeowners are of course left to wonder, how does all this affect my ability to get a loan today and at what rate?
We all know the mortgage market has tightened up like a 1950s girdle lately, but all the experts keep saying, if you have good credit and money to put down, you’ll do just fine. Well that’s not entirely what I’m hearing.