They're millionaires. No doubt about it. Call it paper millionaire, liquid millionaire, inherited millionaire, millionaire in denial, whatever you want. What differentiates them from someone who is not a millionaire is the ability, thru the relatively simple process of selling a house, to put 1 million dollars in their bank account. This is in contrast to someone who doesn't own a WF house worth a million dollars, who cannot sell and put 1 million dollars in their bank account. Someone who owns a house worth $1 million dollars free and clear is a millionaire. Even Mitt would probably have trouble producing a million in cash in a few hours unless he planned ahead to do it.
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