Counterpoint: Housing is an investment, when you can own the house you live in. You are investing in owning that property for yourself so that eventually you can have a place to live without having to pay a significant part of your income to do so (i.e. after you’ve paid off your mortgage). It’s not meant to be income, it’s more part of a retirement plan.

To be clear, I am talking about someone owning the place they live in, not owning rental property.