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

Summary

States findings that climate change and sea-level rise are putting U.S. residential and commercial property values at risk, and cites studies estimating large past and future losses to homes and real estate markets. It highlights rising insurance costs, reduced coverage, and warnings from financial regulators about cascading risks to mortgage markets, banks, and the broader economy. The measure contains only findings and cited research—no new programs, spending, regulations, or requirements. It functions as a formal statement of concern based on existing studies and agency statements.

• The resolution finds that climate change and sea-level rise threaten U.S. residential and commercial property values.
• It cites estimates of large past and future losses to housing markets, including billions lost in several coastal states from 2005–2017.
• Studies cited project hundreds of thousands to millions of properties at risk and trillions of dollars in potential value loss over coming decades.
• Rising insurance costs and shrinking coverage could cause up to about $1.5 trillion in U.S. residential property value loss over 30 years.
• Federal regulators and international financial bodies have warned that these property and insurance trends pose systemic financial risks.
• The text is a statement of findings only and does not authorize spending, change law, or require agency action.
• Potential economic effects include reduced household wealth, higher mortgage and insurer losses, and stress on banks and municipal finances.
• The resolution compares possible widespread property-value declines to the economic harms of the Great Recession.