【CNBC】Real estate is the most 'zombified’ sector and rate hikes will be a big risk, says consultancy

• There's a "big risk" of real estate companies filing for insolvency when interest rates rise, said Nils Kuhlwein of consulting firm Kearney.
• The real estate sector had the highest absolute number of "zombie" companies and the highest share of zombies in 2020, according to a Kearney report — and that number could surge if rates double, said Kuhlwein.
• Zombie companies refer to firms that have been on the market for more than 10 years and earn enough to operate, but not to pay the interest on their debt.

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