Ann: Redflow enters Voluntary Administration, page-57

I'm thinking the same. My spec portfolio has taken a number of hits over the past 12 months. The Covid sugar hit for specs is definitely over and as spec portfolios dwindle, less money is available for upcoming raises.

Deloitte coming out with a recession warning the day before RFX goes into VA reminds me of the beginning of the GFC (no - I'm not suggesting another one). As capital markets start to freeze, the weak companies go belly up due to lack of funding.