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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During the recent housing boom, which is broadly defined as starting in January of 2003 and taking a turn for the worst in April of 2006, the economy added 1.29 million housing-related jobs (according to Moody’s Economy.com). Since that April, the sector has so far lost about 300,000 jobs, but many fear the worst is yet to come.
We reported some pretty nasty numbers from the Mortgage Bankers Association yesterday: A 51% rise in new foreclosures nationwide to the highest rate in the history of the MBA survey. And it’s a big bad number like that that is going to add more fuel to the fire in Washington among all those folks who have been bandying about the idea of some kind of government...
Sorry for being a little late on posting the blog today, but these numbers from the Mortgage Bankers Association are dense, and I’m also working on a piece for NBC Nightly News tonight (that’s my plug to get you all to watch it).
I couldn’t have been less welcome if I were a subprime borrower begging a bank for a jumbo loan. There I stood, in the early September heat, smack in front of the visitor's entrance of the Federal Reserve, as the CEOs of the nation’s very top home builders filed out of a meeting with the Fed Chairman. They may not have marched in lock step, but their refusal to talk to me was in dead-bolt lock step.
An excellent source, Janet Tavakoli, who knows more about the credit markets and asset-backed securities than I ever ever want to, sent me the following note over the holiday weekend. I consider it worth sharing, despite its conclusion, with which some may disagree. Not my place to take a side, but I do think, on the blog, opinions, especially from someone of her caliber, are worth sharing...
I'm incensed. There's no other way to describe it. I called the White House, because after listening to the President's speech and reading the corresponding press release from the White House, I was confused, because of this: "The "FHA-Secure" program will help people who have good credit...
Residents of Florida don’t need an anniversary to remember Katrina; they get a reminder every month in their homeowner’s insurance bill. The devastating hurricane season of 2005 caused and is still causing many insurers to either raise rates or drop coverage entirely.
A mortgage broker writes into the Realty Check mailbox, quite enraged about a memo she received from Countrywide. I called the nation's largest lender to get the document verified. Officials there say it is real, although part of an even larger document. I've asked for a response from Countrywide, and I will post it should I get it.
I received some interesting responses to today's blog on homeowners insurance in the South. Keep 'em coming! From RLB: Hurricane shutters are a great idea; costly but great. I've got sets on 2 of the six properties I own. But of my situation, and many other investors, they are incredibly expensive.
In working on a story today about the ramifications of Katrina on homeowners insurance in Florida and Gulf Coast states, I came across an odd bit of insight into hurricane-prone homeowner mentality. When Nationwide announced yesterday that it would not renew 39,000 residential policies and 16,000 commercial property policies in Florida, that after dropping 35,000 since Katrina, I called over to the Independent Insurance Agents & Brokers of America..