[ehnto]

Given how short the ownership tends to last (~9 months according to an anecdote in this thread), I suspect moving or protecting money is probably part of it somewhere. I also imagine a lot of it really is just wealthy people spending for fun rather than profit.

[iguy]

Heh, my anecdote is famous already :)

Indeed, it's pretty hard to tell. Both seem entirely plausible and I just have no way to guess how such buyers think.