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

This resolution formally recognizes that climate change presents a substantial threat to home values across climate-exposed regions of the United States. It highlights that such declines could precipitate a broader economic recession , drawing parallels to past widespread property value losses that contributed to the Great Recession. The resolution cites various analyses indicating billions in lost home value due to sea-level rise and weather disasters, with projections showing trillions more at risk from chronic flooding and increasing insurance costs. Financial bodies like the Federal Housing Finance Agency and the Financial Stability Board have also acknowledged these emerging and cascading risks to the housing system and broader financial stability.