Looking for spooks, page-9

The discussion of suing depositors seems a bit extreme for this stock. WAs economy has been slow long enough that buyers who lack funds to close the sale are less likely to pay a deposit. Differs from a sudden downturn situation.

Fri currently seems to have soft sales for the final 20 to 30% of units in some/several projects, but very good initial sales on some (or most) recent new projects. Also, unlike big multi-year housing projects, FRI's apartments are limited size and duration, with sandboxed financials. They can also delay some projects if initial demand is weak.

Finally, my guess (emphasis on guess) is that FRI's projects tend to have location (eg, abc site) and/or significance (eg, south perth project) to attract buyers vs other housing options these buyers would consider.