A resolution recognizing that climate change poses a threat to the mortgage market and to home values.
Term Dictionary
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- Congress.gov Legislative Glossary - Comprehensive congressional terms
- NVFC Congressional Terms Glossary - Concise, easy-to-understand definitions
The gist
Non-binding Senate resolution declaring climate change a serious threat to U.S. home values and the mortgage market. Symbolic only ā€” no laws or funding attached.
Who wins, who loses
- Wins: climate advocates, coastal homeowners getting official acknowledgment of flood and insurance risks.
- Loses: no one materially; symbolic only. Critics see it as political messaging against fossil fuel interests.
What it does
- Cites $7.4 billion in coastal home value lost across five southeastern states from 2005-2017 due to sea-level rise.
- Warns 300,000+ properties worth $136 billion face chronic flooding by 2045.
- Projects $1.5 trillion in U.S. property value lost over 30 years from rising insurance costs.
- Compares risks to the 2008 Great Recession housing collapse.
Why should I care?
A home is most families' biggest asset, and teens will inherit this housing market. Supporters say ignoring climate-driven risks could trigger another 2008-style crash. Critics argue the resolution exaggerates risks and pushes a political agenda without offering solutions. An alternative being debated: requiring lenders to disclose climate risk on mortgages. Where do you land? Vote below and use "Tell Your Rep" to make sure your voice reaches Congress.