While the U.S. housing market is bouncing back, trouble still looms for millions of Americans who want to become homeowners.

Seventy-eight percent of Americans believe homeownership is an excellent investment, according to a 2015 Demand Institute survey. However, homeownership fell to 63.7 percent in 2015, making it the lowest homeownership rate in nearly 50 years, according to the annual State of the Nation’s Housing report.

Though many Americans wish to become homeowners, economic hurdles are preventing them from doing so. While low mortgage rates have helped with affordability, home prices are increasing at a faster pace than wage earnings.

Many young renters also have student loan payments, while high rents make it difficult fto accumulate enough savings for a down payment.

“Although 2015 saw an increase in home sales, the rate of homeownership is historically low,” says Abby Shemesh of Amerinote Xchange, a leading mortgage note-buying firm. “Economic constraints are inhibiting people from becoming homeowners — including higher home prices, unprecedented student loan debt, poor credit and a lack of starter homes — which will cause the lapse in homeownership and the rise in renting to continue.”