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> I honestly don't know, so I'm asking a genuine question: if someone has no money in their bank account but owns a house worth millions of dollars, are they considered a millionaire?

Depends on other assets and liabilities. "Millionaire" is $1 million+ net worth; it's quite possible to have, say, a $3 million house, a $2.4 million mortgage, and $0 net between other assets and liabilities, and not be a millionaire.

From an outside perspective, people would see you as a millionaire. But from your perspective, you wouldn't feel like one.

I would wager that most billionaires do not have a billion dollars in liquid assets, yet they're still called that. It seems that the same would apply for 'millionaire'.

Well, they can still sell the house. Then they can spend the money.

But they don't have a place to live anymore.

Many people live in places without owning a $1M house.