Every home is NY and west coast is a million plus. It’s like any decent home is million plus now. Yet I find it strange that only 12 percent of US population is millionaire status. Why?

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If your home is worth $2.0M and you only have $400k of equity in it you’re not a millionaire.

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Because they have a large mortgage and not every home in NY and the west coast is actually $1M?

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A) not every home in NY and west coast is a million plus 2) you don’t have to be a millionaire to buy a million dollar home D) owning a million dollar home does not make you a millionaire

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