I'm not sure that was the point of Jake's post. I think it was reflecting where the 'hopes and dreams' were invested (or, at least, pensions). In the US there is still an understanding of the value of the stock market - possibly as a result of the more visible investment strategy for 401(k)s, etc.
In the UK there is some explicit private investment in stocks/shares (and encouraged in ISA, SIPP, etc), but too many people have been burnt in various stock market crashes, and that has resulted in the mindset of 'my property investment is my pension'.
The sad part is that the US is probably right - the stock market represents the end-point of a system of investment in new business ideas, and while it is far from perfect, there is a definite logic in supporting this mechanism. As a result of this support, investment in companies can be maintained, IPO values can be supported, and early-staqe/venture capitalist investors can believe that they will make money from a good business idea.
In the UK the supporting of house prices has the opposite effect - for a start it increases the cost of living for the group of the population who should be out starting new businesses. It also sucks money from potential investment into unproductive assets (housing). This isn't as simple as just building new houses - it also is reflected in 'investment' in such aspects as redecorating, garden landscaping, new kitchens, extensions, etc. Our housing stock in the UK is probably the slickest in Europe. Of course, this investment keeps the economy going (ie, the kitchen installer will make enough money to employ the landscape designer, etc), and all the money spent on servicing ever larger quantities of debt will fund the finance industry (and their increasingly extravagant lifestyle), but in the end it isn't a productive investment, an investment for the future, and the UK will on balance have a less wealthy future because of it.
It is incidental to the above, but on this point:
The problem in the UK is quite how few people work in this productive sector. Furthermore, working in this productive sector is a poor way to make a living in the UK. Pay levels are relatively low (both in academia and in professional industry), and job security is diabolical. This situation doesn't fill me with confidence for our future productivity.
(The exception to this is the exports in the financial services industries - and these only remain solvent because I'm (well, and the other inhabitants of the UK) guaranteeing truly vast quantities of their debt, giving them handouts wherever possible (eg, access to short term loans, asset purchases based on inflated values, the gains to be made on our crazy 'not actually printing money' bond purchase programme) and treating them very favourably under the law.)