True or False: Redlining only affects homeownership rates among minority communities and has no impact on the overall economic status of those neighborhoods.

The statement is false. Redlining, which is the practice of denying loans or insurance to people in certain neighborhoods, especially those with a high percentage of minorities, affects not just homeownership rates, but also the overall economic health of those areas. When people cannot buy homes, they miss out on building wealth, which can lead to lower investments in community resources like schools and parks. For example, a neighborhood that is redlined may have fewer businesses and job opportunities because investors avoid those areas, making it harder for residents to improve their economic situation. Therefore, redlining has long-lasting effects on both homeownership and the economic status of entire neighborhoods.