Just recall that's an exponential function so it's normal that when you look at it over 50 years it seems like it's climbing vertically.
You're not in log scale. Look at the bigger picture. It was a flash crash with a flash recovery, but set aside the crash, the upward trend has been accelerating just a tiny bit, which calls for a small correction, but not a crash.
The 2008 was specific to the real estate, so it's seen on another graph. The rate of increase of the line on a log scale from 1990 to 2008 kept accelerating instead of staying linear. I drew 3 identical green lines. Why do you think Michael Burry started to short the housing market in 2005... The acceleration was clear (plus all the analysis about the subprime market, because obviously it wasn't all that clear at that time, it's now clear in hindsight).Not if you look at log scale. Maybe for 2000 dot com. But definitely not for 2008 crush.
If you have read the whole article, you could find the reasoning.There is nothing like that happening now.