re: Housing market not cooling off at all

I know a married couple who is currently paying 3 house notes because their realtor told them over the summer that towards the end of 2023 and into 2024 the housing market will bounce back strong.

They have the house they bought after getting married. They bought a small rental house and was renting it out.

They bought a lot to build a new house. They decided in September that it was the right time to start building. During that time the person renting the small rent house informed them they were going to be moving at the end of the year and since the housing market was supposed to be booming, they decided to just go ahead and sell it instead of finding a new tenant.

They started building in mid October, put house up for sell. The beginning of the year they put the rent house up for sell. The house they lived in, they have shown it to 3-4 people between October and now. 0 people have shown interest in the rent house.

No matter how much money I would have, the idea of that makes me sick. Having two homes up for sell with a lack of people interested to buy whiling building a new house. Three homes you also pay insurance on, still have to maintain.

They keep being told "by this time". "It still slow, but don't worry it should be getting a lot better by ____". Personally I wouldn't listen to a realtor because they want people to move so they will have inventory to sell. At some point it will get better, but having to pay 3 houses, that's wasting money....