What is the cycle of boomtown to ghost town?

The cycle of boomtown to ghost town typically begins with the discovery of valuable resources, such as gold or oil, attracting a large influx of people seeking opportunity. As the population swells, businesses flourish, leading to rapid urban development and prosperity. However, once resources are depleted or economic conditions change, residents begin to leave in search of better prospects, resulting in a decline in population and services. Eventually, this leads to the town becoming abandoned, transforming it into a ghost town.