The Stalling Out of Economic Mobility

President Obama's father-in-law lied about his race so he could join the Navy. He was discharged honorably from the Navy, having served in the Second World War. When they were ready to buy their own house, he had the GI Bill. So he went out to Queens, found, bought the house,. and didn't introduce his family to the house until they had closed on the deal. And within a year or two, the neighborhood flipped because you couldn't get a mortgage.