Did you just say US housing boomed continuously from 1970 to 2005? That's 35 years! I can say it was the new norm and the crash was just a blip, depending on how you look at it.
As with all investments, one must know when to exit. Just don't be the greatest fool holding the baby when the music stops.
With US maintaining low interests for the forseeable future, asset inflation will continue in the new economies. A smple strategy to exploit this situation is to buy now and sell in 2 years, but caveat emptor.