Yah, but do you ever "make" the money if you live it in your while life, or just trade laterally if you need to decrease/increase the size of the place you live in.
I guess we have different definitions. To me an investor is someone who buys a place with the intent to buy it then sell it later for a profit, and pocket the different. Alternatively I would also definite it as someone who buys a complete dwelling for the purpose of renting it out and generating cash flows.
If someone buys a place (even at expensive prices) with the intent to house themselves, and there's no intend to sell it, I don't think that's investing. That's buying a home to live in.