It depends on the situation.

If you have a secure job, solid income, low expenses, large amount of equity in the real estate and ability to borrow at low market rates then I would say yes within reason. Taking 50k out of 250k in equity for instance might make sense.

It also depends on your family situation. I am semi retired and my wife also only works part time, we have 2 kids, so I am personally am very cautious about levering against our home even though it might make a lot of sense because we have a very low debt/equity ratio on the property.