Where I live, there are apartments that start at $5million, where the penthouse could be up to $30million.
Also, second home? My godfather has a condo/appartment in Newport Beach (CA) which is a 3rd residence. Place is filled with Bentleys, Rolls, Ferraris, BMWs, Mercs, etc etc.
Also, there are people who are just crazy about cars. Really don't have their priorities straight. Will buy/lease a $450k car... but end up barely able to make rent/living/food payments.