Renting will be cheaper than buying a home for years to come, real estate firm says

• Renting will be cheaper than owning a home for a long time, according to CBRE. 
• CBRE said that as buying costs soar, rental demand tend to also climb. 
• The average mortgage payment was 38% higher than the average apartment rent at the end of 2023.

Owning a house feels increasingly out of reach for many would-be buyers, and the supply shortage across the country means that it'll be more economical to rent than own for a long time, according to CBRE.