[magnuspaaske]

Not really, there's a real cost of ownership for real estate that is more expensive than for owning stock in a company for instance. You still need a place to live and owning can be great for that – as to being a landlord there might still be better ways to make a return.

But the real problem with real estate "investment" is that the return doesn't come from doing something productive but rather is predicated on preventing someone else from doing something productive, namely making more buildings.