Don't bet on real estate rebound

According to reports, 36 of China's 67 listed property developers forecast worse results in 2014 than the previous year. Furthermore, 13 companies said they may suffer losses for the year 2014 for the first time.

Property developers will have to cut staff to reduce their costs. Some developers also plan to withdraw from the market and focus on other industries as a way to pare down their risk exposure.

Property developers are at the core of China's housing industry. If their current efforts to promote demand and reduce inventories with promotional offers don't bear fruit, the entire housing sector could face a painful period of adjustment.

Many local governments and housing investors seem more optimistic though. In some places, authorities are trying to keep the market afloat with supportive policies, while some speculators are waiting for the right moment to start snapping up homes. But if developers have lost confidence, what does this say about those hunting for bargains or silver linings?

With layoffs, financial losses and market withdrawals on the horizon, developers face dark times ahead. It's time to face facts: the golden age of Chinese property growth is over.