Baby’s first home has some staying power, not unlike Fisher Prices’ other non-biodegradable heirlooms, according to new research by Edelman Financial Engines. 

High interest rates are keeping Americans tied to their abode: Over a third (36%) of homeowners report feeling stuck in their house and unable to move for said reason. This rises to nearly 50% for homeowners under 50, who are mostly made up of Gen Z and millennials. But even some young Gen Xers in this group are finding themselves in dire straits.

Last year, the Fed raising interest rates sent mortgages to a 22-year high. While the rates have since ebbed, many homeowners are feeling still a little burnt by the market. Many (72%) Americans report being concerned about the current rates, rising to 81% for those under 50. 

The starter home sinks in its teeth for Young Americans

Part of the issue is that because the market is so thorny, many young Americans are forced to pour all their money into their first home. To afford a median-priced starter home, prospective buyers must earn about $80,000 a year, per Redfin. 

Then their salary isn’t rising enough to keep up with their desire to move from an apartment to that three-bedroom house with a garage, like their parents did.

“Americans need to earn more than a year ago—and much more than before the pandemic—to afford a starter home because mortgage rates are elevated, and home prices are near record highs,” reads the report.

Most Americans are, therefore, priced out. Just over half of households (50.1%) earn $75,000 or less, according to U.S. Census data, points out Fortune’s Alena Botros 

The situation is so dire that wannabe presidents have taken note in order to curry favor with Americans. “I’ve been doing housing for a long time. It is the first time that I could remember where both sides are talking about housing,” Fannie Mae CEO and president Priscilla Almodovar said at Fortune’s MPW Summit of the presidential election, noting that it demonstrates the “affordability crisis” at large.

It all means that once Americans can finally get their hands on a home, they’re not able to release. With so much liquidity in one investment, it can be hard to re-enter the market and afford increasingly expensive property. And on the other hand, older homeowners are often not looking to move and give up their relatively low mortgage rates they once had.

Older generations are also stuck

It’s not just young people feeling cuffed to their less-than-ideal current residence. 

Brenda Edwards, 70, a retired nurse told the Associated Press that making a move would make no sense. “It would be too hard to purchase anything else,” she said. Sabrina Steward Koboldt feels similarly. While she told Realtor.com that she wants to move, she recognizes that’s not in the cards.

“If we bought something right now, our mortgage payment would more than double for the same-sized home,” she said. “We’d love a bigger house with some land, but that’s not happening anytime soon.”

In other words, the housing market locks everyone in. 

“Home ownership has been challenging for all sellers looking for their next dream home, Clay Ernst, executive director of financial planning at Edelman Financial Engines, told Fortune. 

He calculates that around three years ago a $400,000 mortgage at a 3% interest rate 30-year fixed loan term would lead to a monthly payment of $1,686. Today the price has almost doubled, the same deal at a 6.5% interest rate “equals monthly payment of $2,528, an increase of roughly 50%.”

Even those who are well-off likely struggle to move in that environment. “It is hard walking away from a 3% mortgage—no matter your net worth—and taking on a 6.5% mortgage where the payment is 50% higher,” Ernst explained.

It’s at the point where even wealthy people might find themselves stuck in their mansions. 

“For higher net worth buyers who are upgrading, they would be more likely to take on an even larger mortgage, which has a multiplier effect on the monthly cost,” he concluded. “A larger, more expensive home also means higher home insurance payments, higher utility bills, which in turn compromise one’s ability to save as much for retirement and college tuition.”