Does the home brewing really work out cheaper? I can get basic industrial beer at the supermarket for less than a buck each... I realise the quality is higher with the home brew, but is it really cheaper after taking account of all the kit?
I homebrew as well. Generally speaking, if you normally drink Bud/Miller/Coors and homebrew instead, you'll at best break even, especially after factoring in the cost of equipment. If you normally drink craft, you can save a lot.
Example: A new brewer can probably make a basic batch for $35/5 gal (ingredients only). This makes about 2 cases, so figure $17.50/case or 73 cents/ 12 oz beer. Equipment, which will run you at least $80 to start, will eat at that. Using advanced processes and buying ingredients in bulk could probably save you $10-15 off those ingredient costs, but will require some advanced equipment, that again costs money.
So compare:
Homebrew: $17.50/case (ingredients only)
BMC: $16.00/case (onsale, and this is highly variable depending on where you live) (but homebrew tastes a lot better)
Craft: $36.00/case (assuming $9/6pack, which is a good average)
TL;DR: Brew because you like the hobby and enjoy good beer. Don't homebrew to save money over macro beers.