No.

Those "skyrockets" you keep talking about were more like gliders caught in a storm, up and down and down down down, a little up and down again for years and years and years.

Also, people didn't just sell everything because they were morons and scared. They sold because they had to choose between losing their home, feeding their family, and holding depreciating assets in the market, because jobs got scarce.

Our government has been working hard for the rich for decades now. They've helped orchestrate massive devaluation of wages and worse yet, devaluation of lifetimes of savings, cleverly shifting purchasing power away from generations into interest free loans to the uber wealthy, who then guarantee themselves massive returns by granting themselves ever larger shares of corporations they control. Then, they insulate themselves from the next phases of these planned, orchestrated cycles, by scooping up houses and rent-seeking properties. The market crashes, they sit on the sidelines and when people are unemployed and desperate, they scoop up even more shares, more properties. Generation after generation this has been going on. And it won't stop till the select royal uber wealthy own 100% of all.

Hope and shared prosperity are things of the past, the very, very distant past, but we keep pretending that everyone outside of the generationally wealthy actually have a shot of joining their ranks. I think the story is starting to wear thin though, the curtain has been drawn back.