Recently, Ernst & Young released the results of its annualbusiness risk survey, our scorecard for how observers around thetop 10 risks facing businesses globally. As part of theoverall survey, Ernst & Young’s Global Real Estate IndustryCenter worked in collaboration with Oxford Analytica to poll realestate analysts, business executives and E&Y real estateprofessionals. Here’s what our survey revealed:
1. Credit Shocks, Deleveraging,
Refinancing Uncertainty
With more than $1.4 trillion in commercial debtmaturities expected between now and 2013, continuing decline inproperty values and stricter loan underwriting, it’s hardlysurprising that this is top-rated risk in business. What’s a littlemore surprising is that there seems to be almost universalagreement among our real estate commentators that this will remaina priority risk for the foreseeable future.
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Howard Roth
As the Global Real Estate Leader, Howard coordinates the firm's activities across a broad array of related services around the world. EY has the largest integrated real estate practice of any Big Four firm, with more than 7,500 professionals around the world providing audit, tax, transaction and advisory services to owners, builders, lenders and users of real estate. EY serves more than 4,000 real estate clients throughout the world. Howard brings more than three decades of experience in the real estate industry. He has worked extensively with major real estate private equity funds, domestic and offshore real estate investment trusts and large public homebuilders, as well as numerous construction and hospitality companies. His credentials include a BA in Accounting from Hofstra University. He is a member of the American Institute of Certified Public Accountants and New York, New Jersey and Connecticut Society of CPAs, has been a columnist for several major industry publications and is frequently a speaker at key real estate industry events.
