Xiong’an’s plight serves as a cautionary tale for urban planners and policymakers worldwide. The city’s failure to attract residents underscores the importance of organic growth and the limitations of top-down urban planning. As cities around the globe grapple with issues of sustainability and overcrowding, Xiong’an’s story highlights the need for development strategies that align closely with population needs and desires.
Similar "new towns" were also being built throughout Korea during the recent housing bubble. People would speculate on apartment buildings in the most remote places, hoping to make a quick buck reselling it at a higher price. Many people are left holding the bag, paying of debt for the next 60 years.
Here a twitter thread on the topic in case you have the attention span of a goldfish and need bite-size information~~