A resolution recognizing that climate change poses a threat to the mortgage market and to home values.

Senate Resolution

S.Res. 555

119th Congress

A resolution recognizing that climate change poses a threat to the mortgage market and to home values.

In Committee

Introduced:Dec 17, 2025

Primary Sponsor

Sheldon Whitehouse

D - RI

Cosponsors

10

Quick Stats

Summary

This Senate resolution formally recognizes that climate change threatens the U.S. mortgage market and home values, warning of potential economic recession. It cites research showing coastal states lost $7.4 billion in home value to sea-level rise flooding, and projects 300,000 properties worth $136 billion at risk of chronic flooding by 2045.

Latest Action

Referred to the Committee on Banking, Housing, and Urban Affairs.

AI Summary

Plain-English explanation of this bill

This Senate resolution formally recognizes that climate change threatens the U.S. mortgage market and home values, warning of potential economic recession. It cites research showing coastal states lost $7.4 billion in home value to sea-level rise flooding, and projects 300,000 properties worth $136 billion at risk of chronic flooding by 2045.

Last updated: 12/26/2025

Key Points

Main provisions of the bill

Florida, SC, NC, VA, and GA lost $7.4 billion in home value from sea-level rise (2005-2017)
Research predicts $25 trillion global housing loss over 25 years (The Economist)
U.S. residential property projected to lose $1.5 trillion over 30 years from insurance costs
By 2100, nearly 2.5 million properties worth $1.07 trillion at risk of chronic flooding
Federal Housing Finance Agency acknowledged climate threat to housing in April 2024
Financial Stability Board warns of cascading risks: insurance, mortgages, bank insolvencies

How This Impacts Americans

Potential effects on citizens and communities

This resolution affects homeowners in climate-vulnerable areas (coastal, flood-prone, wildfire zones), the mortgage industry, insurance companies, and banks holding mortgage-backed securities. It signals to Fannie Mae, Freddie Mac, and the Federal Housing Finance Agency that Congress recognizes climate risk. Real estate markets, particularly in Florida, the Gulf Coast, and fire-prone areas of California, may face valuation pressures as climate risks are priced in.

Policy Areas

No policy areas assigned yet.

Scope & Jurisdiction

Jurisdiction Level

federal

Congressional Session

119th Congress

Citation Reference

555, 119th Congress (2025). "A resolution recognizing that climate change poses a threat to the mortgage market and to home values.". Source: Voter's Right Platform. https://votersright.org/bills/119-sres-555