The effects of systemic racism create a kind of loop that makes it harder and harder to ever catch up.

"Discrimination, whether seen in mortgage or small-business lending, has lasting effects. "When you don't invest, you get social problems, you get crime, less education, all of which reduces the chances of people climbing the social and economic ladder," said Andre Perry, a fellow at the Brookings Institution who studies wealth creation and race. "

"Lending practices have gradually become more equitable in the U.S. But more equitable is not equal. The residual effects of redlining—and ongoing discrimination against people of color today—continue to bolster the country’s racial wealth divide. Three-quarters of neighborhoods redlined in the 1930s continue to struggle economically today and are much more likely than other communities to house lower-income, minority residents.

They are also more likely to be subject to other negative outcomes. A new 2020 study by researchers at the National Community Reinvestment Coalition, the University of Wisconsin/Milwaukee, and the University of Richmond finds that "the history of redlining, segregation, and disinvestment not only reduced minority wealth, it impacted health and longevity, resulting in a legacy of chronic disease and premature death in many high minority neighborhoods."17 One sobering impact: Life expectancy is 3.6 years lower in redlined communities than in communities of the same age that had received high grades from the HOLC."

https://www.investopedia.com/the-history-of-lending-discrimination-5076948