Very interesting. I caught myself thinking aloud lately, if I'd just put every saved $ on real estate since being able to save at 10 (in the 1970s) until now, EVERYTHING in EVERY market would have made a killing. You don't need to specific, it just always went up.
Only worry: Interest rates coincide with this pretty much. 1970's/1980's:maybe 10-20% interest. 1990s like 5-8% 2000's til now, 5 down to measly 1.5 to 2%. Is all of this JUST because of interest rates? Could be. So what if they don't go down no more?!
But it just feels like you don't lose with real estate (except 2009, which turned out to be a buying opp of course)...