Economist John Geanakoplos says we've yet to see the worst of the housing crisis. He notes...

|By:, SA News Editor

Economist John Geanakoplos says we've yet to see the worst of the housing crisis. He notes mortgage servicers - who don't own the mortgages they service - are dragging their feet to foreclose on homeowners. In the end, "almost all of these people are going to end up defaulting and being thrown out of their homes," he says. Homebuilder ETF XHB -0.6% after weak Nov. home sales.