Calculate Elasticity of demand in this example Suppose that house prices increase by 10%, and the total quantity of homes purchased
decreases by 8%. What is the elasticity of demand of housing? Interpret your answer in the
context of a 1% change in home prices?

Is the answer just -0.8? Can someone explain this please, my professor really sucks.
Yes, the answer is -0.8.

Price Elasticity of Demand is defined as:
$$e_{\langle p \rangle} = \frac{\mathrm{d} Q/Q}{\mathrm{d} P/P}$$

You're given :
$$\mathrm{d} Q/Q = -0.08$$
and 
$$\mathrm{d} P/P = 0.1$$

ergo:
$$-0.08/0.1 = -0.8$$

I'm reasonably certain that by "Interpret your answer," your professor means that s/he wants you to explain what that number means, in layman's terms.

You can always check the Wikipedia entry.