Physical black holes in semiclassical gravity

We derive and critically examine the consequences that follow from the formation of a regular black or white hole horizon in finite time of a distant observer. In spherical symmetry, only two distinct classes of solutions to the semiclassical Einstein equations are self-consistent. Both are required to describe the formation of physical black holes and violate the null energy condition in the vicinity of the outer apparent horizon. The near-horizon geometry differs considerably from that of classical solutions. If semiclassical physics is valid, accretion into a black hole is no longer possible after the horizon has formed. In addition, the two principal generalizations of surface gravity to dynamical spacetimes are irreconcilable, and neither can describe the emission of nearly-thermal radiation. Comparison of the required energy and timescales with established semiclassical results suggests that if the observed astrophysical black holes indeed have horizons, their formation is associated with new physics.