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.
Follow Diana Olick on Twitter @Diana_olick.
I love million-dollar home day on CNBC, not just because I get to go traipsing around the country, snooping through semi-rich people's homes, but also because I get to see that I'm not the only one getting nothing for something. Okay, that's not fair. Yes, there are hinterlands out there where a million dollars will buy you something truly large and truly beautiful; the question is: do you truly want to live there?
So I just saw on TV that Gwyneth Paltrow doubled her money on the sale of her Tribeca apartment in Manhattan. $14 mill!! She may not like the U.S. (she moved to London because, she has said, she prefers the European way of life), but she can't trash the NYC real estate market now, can she? Like I've been saying and saying and saying, all real estate is local.
Existing home sales numbers fell off a cliff in March, down 8.4% month to month and down 11.3% from March of 2006 (the latter the more important measure). Realtors are blaming it on the weather, yet again, and they do have some fodder for their argument. This February was the coldest on record since 1994, and February sales represent the March closings that we see in these numbers.
I know I've blogged about green building before, but humor me if you will, because I'm not going to let Earth Day go by without reminding everyone of the enormous and growing potentials of going green at home. Now I'm no Al Gore, but one trip to the International Home Builders Show in Orlando a few months ago had me ready to rip out my century-old insulation and put a timer on every light switch.
To say that the housing starts number from the U.S. Dept. of Commerce today defied the Street's expectations is simplification to the Nth degree. The starts number defies logic, and it defies common fiscal sense. To be fair, many of the experts I spoke with today wrote it off as a "fluke," and the Commerce Dept.'s number has a notoriously high margin of error, especially in the permits breakdown.
You bloggers don’t mince words do you? First off, I want to thank all of you for writing in—a one day record for the Realty Check blog, 165 responses in one day and 9 more floating through the ether overnight (seriously, Jay J., what are you doing blogging at 1:21am???). I can’t possibly post all your responses, so I thought I would at least list some of the subject lines ...
I was reading an article from last weekend’s Washington Post (sue me, it’s been a busy week) about Condos feeling the “Mortgage Crunch.” The article explains how condos are bearing the brunt of defaults and foreclosures because condo fees are going unpaid and condo associations are being forced to dip into reserves to make repairs like fixing the roof or replacing the water heater.
Bravo, to all of you for writing in, and may I just say that perhaps the politicians should be reading this, because if they think a government bailout would be popular, they’d better think again. We got about 57 emails to the realty check site in the hour after I did the bailout piece on TV, and I can’t find even one post that supports a bailout.
I’m interested in getting some opinions on a story I’m reporting today because I’m not sure I agree with any of it. As the subprime crisis continues to unfold, and tightening lending standards bring the already sluggish spring market to a crawl, the blame game is heating up on Capitol Hill. Some lawmakers want to hold the big banks accountable. Bear Stearns, UBS, Lehman Bros., Merrill Lynch, they buy the loans, pool and securitize them. It is estimated that mortgage backed securities issued in 2007 will top 2 trillion dollars, not all of them consisting of subprimes of course.