My Brother has a house worth $400,00 and he has no mortgage as it is paid off! His utility bills and insurance and maintenance cost him about $500 per month and property taxes and all other costs about another $500 per month. He claims it only costs him about $1000 a month for shelter since he has no mortgage. Is he correct from and economist viewpoint? Explain.

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From an economists viewpoint your brothers claim that it only costs him 1000 a month for shelter since he has no mortgage is not entirely accurate Whi... View the full answer