There's a 'big risk' of real estate companies filing for insolvency when interest rates rise, said Nils Kuhlwein of consulting firm Kearney.
There's a "big risk" of real estate companies filing for insolvency when interest rates rise, according to a partner at consulting firm Kearney.
"What we are now seeing again, 13 years later, is that again, the real estate sector has the highest share of 'zombies,'" he told CNBC'son Wednesday. According to OECD's definition, "zombie" companies are those that are at least 10 years old and have persistent problems meeting their interest payments.
When asked if the real estate market could face a crisis when interest rates rise, Kuhlwein said it was "absolutely" a possibility.
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