There is no right answer that fits everybody. A good investment is usually something that pays you more than what you had to pay for it. So in this regard, a house does not technically fit. But owning a house has plenty of intangible benefits: pride of ownership, freedom of customization, and setting roots for your family.
Whichever the case, the buyer needs to look at their reasons for wanting to buy a house and measure it in terms of their short and long term financial goals. This will help you decide what is right for you and your family.