Overview: As China experiences ongoing economic decline, housing costs in Beijing now surpass those of New York and according to an April 2016 announcement from the UK's Global Cities Business Alliance, they are now the most expensive in the world. The rise in prices has made it difficult for migrants in particular to purchase their own homes and many people are moving to the suburbs in search of affordable properties. However, there is a serious imbalance between cost and value. On this episode of Asia Insight, we take a look at ever-spiraling housing costs in Beijing.