If you saw the FT Alphaville post on this you may also have seen that the link to the paper itself was broken. Here it is.
There are several dispiriting charts for optimists in the paper with the one below, for example, not suggesting encouraging odds on an imminent reversal of property price declines:
Another similar chart has relatively better (but hardly marvellous) news on the equity front:
The authors background paper, Banking Crises: An Equal Opportunity Menace, is also recommended reading. It too has a collection of lovely charts this one of which may (hopefully) interest policy makers:
No free lunch, globalisation.