Now a millionaire doesn’t necessarily have to have £1 million in the bank. It’s possible to be considered a millionaire if you own assets like a house/yacht/racehorse that are worth a million or so. Owning a house worth £1 million or more with a mortgage of £750,000 doesn’t technically make you a millionaire until the mortgage is paid off or the house goes up in value and the mortgage goes down. And when a house already worth £1 million or more goes up in value, it does so by the same percentage as the average house (roughly speaking) so the
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