Of course there is absolutely no investment that is 100% risk free, but real estate is "safe enough".
Real estate as an investment is ok if:
1. You own it outright, or are actively working to own it outright
2. It pays you back (e.g., renter or leaser income)
3. It has some appreciation
Otherwise, it definitely isn't an "asset" unless it meets those criteria. It is a liability. I cringe when I hear people talk about their home as an "asset", especially when it's not paid off and they have zero intention of ever selling it.