Didn't we just learn that "investing" in real estate isn't always the best idea, either? Buying a house to live in on credit is part spending, part leveraged speculation.
Meh, I don't consider my house an investment (in that I don't expect it to generate a return), it's somewhere to live. Most people understand that a car is a terrible 'investment', but if you intend to drive the same one for a decade you're better off buying it than leasing it. Same thing, but different scale.