Steven Brown, senior portfolio manager at American Century Investments®, discusses the state of the recovery in the housing market and what to expect from the sector throughout 2013. He appeared on Bloomberg Television's "In the Loop."


References to specific securities are for illustrative purposes only, and are not intended as recommendations to purchase or sell securities. Opinions and estimates offered constitute our judgment and, along with other portfolio data, are subject to change without notice.

This fund may be subject to many of the same risks as direct investment in real estate. These risks include changes in economic conditions, interest rates, property values, property tax increases, overbuilding and increased competition, environmental contamination, zoning and natural disasters. This is due to the fact that the value of the fund's investments may be affected by the value of the real estate owned by the companies in which it invests. To the extent the fund invests in companies that make loans to real estate companies, the fund also may be subject to interest rate risk and credit risk.

The opinions expresses are those of American Century Investments (or the fund manager) and are no guarantee of the future performance of any American Century Investments fund.