I just had a conversation about this with someone today.

Myself, I went to college (over my objections) rather than continuing to work for my father (a 3rd generation carpenter that could literally build anything... framing, electric, plumbing, you name it).

The end result is that I quit school and took up a hobby that started one summer as a child when I mowed lawns, chopped wood, and washed log trucks to save up for a computer (programming).

Today, I really wish that I had been allowed to work for my father and learned what he knew. Not only could I be making a very good living (which I currently do), but I could be passing on the critical skills that he had to my children... giving them a lot better chance of striking out on their own.

Trades should definitely not be overlooked.