Overbuilding in Wuxi?

A trainer who has just joined our school is in the same situation as me. He has married a Chinese woman and has bought an apartment in the outskirts of Wuxi. He tells me that the area of town that he lives in has a lot of empty apartments. The building in which he lives has 36 units, 7 of which are occupied. Our apartment building which has twelve units, has so far had four families move in. He tells me his area of town is like a ghost town as is our part of town, at night.

It makes me wonder if the developers here have overbuilt.