David and Victoria Beckham are hit by the recession
The couple are reported to be moving from America to Europe because David's time at LA Galaxy has come to an end - but the relocation is so far not proving simple.
Posh and Becks have decided against selling their Beverly Hills mansion after finding out its value has plummeted by £7 million.
They bought their luxury home - which boasts six bedrooms and 10 bathrooms - in 2007 for £11 million.
But after recently having it valued, David and Victoria have been told it's now worth just over £4 million.
A source tells The Mirror: “David and Victoria originally considered selling up but then had their home valued. Unfortunately, they bought it at the peak of the housing boom and before the US property crash.
“Despite spending heavily on the place over the years, it simply doesn’t make sense to sell up now. They will hold on to it, use it as their Californian base and hope the market picks up.”
This means David and Victoria will have to continue to pay staff - including gardeners and cleaners - to keep the 12,000 square foot mansion in good condition.
On a positive note, the couple are reported to be worth a combined £165 million, so there's no need for them to worry about being credit crunch victims just yet.
In fact, just last month Victoria was spotted eyeing up a number of gorgeous properties in London, fuelling rumours the couple are moving back to their native UK with children Brooklyn, 13, Romeo, 10, Cruz, seven, and one-year-old Harper.
The fashion designer - who already owns a Hertfordshire mansion with her hubby - was chauffeured between the potential new homes in South West and South London in a silver Range Rover.
Her viewings included an £18 million Grade II listed home near the Thames that has seven bedrooms, a wine cellar and a gym.
The second was a four-storey 17th century home worth £9 million, while the third was a £6 million refurbished house close to good friend Gordon Ramsay.
David, 37, is to announce in the new year what his plans will be for next season.
But it's thought that Paris St Germain could be interested in the football star - a club that's just an hour's flight from London.
The source adds to The Mirror: “It is a really exciting time for the family as Victoria’s fashion career is so well established she can work from just about anywhere.
“David, meanwhile, cannot wait for a new challenge.”