A resolution recognizing that climate change poses a threat to the mortgage market and to home values.
Sponsors
Legislative Progress
In CommitteeMr. Whitehouse (for himself, Mr. Merkley, Mr. Schatz, Mr. Markey, …
Summary
What This Bill Does
This is a non-binding Senate resolution that formally recognizes climate change as a threat to the U.S. housing market and economy. It expresses the Senate's awareness that rising sea levels, flooding, and extreme weather events could cause significant declines in home values, particularly in coastal and flood-prone areas, potentially triggering a broader economic recession similar to the 2008 housing crisis.
Who Benefits and How
Climate advocacy organizations and researchers benefit symbolically, as this resolution validates their warnings about climate-related financial risks. The resolution may provide political support for future climate disclosure requirements or housing market reforms, though it creates no immediate tangible benefits.
Who Bears the Burden and How
No one bears any direct burden from this resolution. It is purely symbolic and creates no mandates, regulations, fees, or reporting requirements. The resolution simply expresses the Senate's recognition of a problem without requiring any action.
Key Provisions
- Formally recognizes that climate change threatens home values in climate-exposed regions
- Acknowledges the risk of broader economic recession from climate-driven property value declines
- References research showing billions in lost home value from sea-level rise flooding
- Notes warnings from the Federal Housing Finance Agency and Financial Stability Board about climate risks to the housing system
- Draws parallels to the 2008 Great Recession, which was triggered by widespread property value declines
Evidence Chain:
This summary is derived from the structured analysis below. See "Detailed Analysis" for per-title beneficiaries/burden bearers with clause-level evidence links.
Primary Purpose
A Senate resolution recognizing that climate change poses a threat to the mortgage market and home values, warning of potential widespread property value declines in climate-exposed regions.
Policy Domains
Legislative Strategy
"Use Congressional recognition to raise awareness about climate-related financial risks to the housing market and broader economy"
Likely Beneficiaries
- Climate advocacy groups
- Researchers studying climate risk
- Proponents of climate disclosure requirements
Likely Burden Bearers
- No direct regulatory burden - this is a non-binding resolution
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology