Number Crunch: October 2008

The New York Times reports that the economy lost 84,000 jobs in August, bringing the unemployment rate to 6.1 percent, the highest it's been in five years. The announcement marked the eighth straight month of job losses.

NAHB reported that in 2007, 56 percent of its members offered incentives to homeowners to buy a home. In 2006, it was only 45 percent of its members. What will 2008 bring?

Senior citizens are camping out in their cars hoping to buy the lot of their choice in Lennar's active-adult community, Greenbriar Oceanaire Country Club and Golf Course. The new homes in the gated community are priced from $369,950 to $437,950. So far Lennar has sold more than 900 homes at the 1,400-home community.

According to the National Association of Realtors, sales of previously owned homes, which make up most of the nation's housing supply, rose 3.1 percent in July, the biggest monthly increase since February 2007.

The S&P/Case-Shiller index of real-estate values of 20 major metropolitan areas for June dropped 15.9 percent since June 2007. While it had dropped 15.8 percent the month before, June's drop is a new record decline. Yikes.

MarketWatch reports the U.S. 2007 real median household income is up 1.3 percent, to $50,200. Although that might seem encouraging, the U.S. poverty rate is 12.5 percent.

The mortgage crisis and the slow economy are taking its toll on people who are swimming in debt. Up to 16 million people reported high levels of stress from debt and that they suffered from at least three stress-related illnesses, results from an Associated Press-AOL Health poll show. We have an epidemic on our hands, and it's called the Slow Economy Virus.