Is Real Estate Still A Good Investment?

When considering whether real estate is still a wise investment, in these uncertain times, I encourage you to review the following statistics from the past 39 years:

National data:

1970-1979 = 142% appreciation
1980-1989 = 52% appreciation
1990-1999 = 45% appreciation
2000-2008 = 42% appreciation

Source: The National Association of Realtors

There is no certainty that any investment will increase in value. But the above statistics lead me to believe that the risk may be worth it. What are your thoughts?