[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. Res. 555 Introduced in Senate (IS)]

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119th CONGRESS
  1st Session
S. RES. 555

 Recognizing that climate change poses a threat to the mortgage market 
                          and to home values.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                           December 17, 2025

 Mr. Whitehouse (for himself, Mr. Merkley, Mr. Schatz, Mr. Markey, Mr. 
 Van Hollen, Ms. Duckworth, Ms. Smith, Mr. Padilla, Mr. Welch, and Ms. 
Blunt Rochester) submitted the following resolution; which was referred 
        to the Committee on Banking, Housing, and Urban Affairs

_______________________________________________________________________

                               RESOLUTION


 
 Recognizing that climate change poses a threat to the mortgage market 
                          and to home values.

Whereas a home is the largest asset of most individuals in the United States;
Whereas analysts have found that sea-level rise is directly to blame for a loss 
        in coastal home value, and that between 2005 and 2017, Florida, South 
        Carolina, North Carolina, Virginia, and Georgia together lost 
        $7,400,000,000 in home value due to sea-level rise related flooding;
Whereas economists have found that housing loses substantial value following a 
        weather disaster, in part because of the market's expectation of future 
        disasters in the same ZIP Code;
Whereas researchers have found that sea-level rise puts more than 300,000 homes 
        and commercial properties in the United States at risk of chronic, 
        disruptive flooding in the next 30 years, with a cumulative value of 
        properties at risk of $136,000,000,000 by 2045;
Whereas, by the end of the 21st century, researchers predict that nearly 
        2,500,000 homes and commercial properties collectively valued at 
        $1,070,000,000,000 today, will be at risk of chronic flooding;
Whereas The Economist predicts that, over the next 25 years, climate change will 
        cause a $25,000,000,000,000 loss to the value of housing stocks 
        worldwide;
Whereas researchers have found that United States residential property will 
        likely lose nearly $1,500,000,000,000 in value over the next 30 years 
        due to increasingly expensive and unavailable insurance;
Whereas, in April of 2024, the Federal Housing Finance Agency ``recognize[d] the 
        emerging and increasing threat to all stakeholders in the housing system 
        due to climate risk and the increased frequency and intensity of major 
        natural disasters'';
Whereas the Financial Stability Board has warned of cascading risks from climate 
        change, including increased insurance premiums and reduced coverages, 
        mortgage crises, and bank insolvencies; and
Whereas the last time there were widespread declines in property values, the 
        economy spiraled into the Great Recession, costing millions of people in 
        the United States their jobs, homes, and savings: Now, therefore, be it
    Resolved, That the Senate recognizes that climate change portends 
significant declines in home values in climate-exposed regions of the 
United States and a broader economic recession.
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