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David Beckham and his wife Victoria's Los Angeles mansion is now worth approximately $11 million less than what they paid for it back in 2007.
The couple, who are said to have a combined $265 million fortune, are the latest victims of the worldwide recession, according to a report in the UK Mirror newspaper.
David, who has recently quit football team LA Galaxy after five years, splashed out around $17 million on the six bedroom, ten bathroom property in Beverly Hills.
"David and Victoria originally considered selling up but then had their home valued," a source told the publication.
"Unfortunately, they bought it at the peak of the housing boom and before the US property crash."
Apparently the couple had considered selling the property, but decided to keep the home as a West Coast base after having it valued.
The newspaper also reports that the Beckhams will have the added expense of having to retain staff to maintain their Californian home including gardeners, cleaners and housekeepers.
"Despite spending heavily on the place over the years, it simply doesn't make sense to sell up now," revealed the insider.
"They will hold on to it, use it as their Californian base and hope the market picks up."
The former England footballer has not yet announced where he will continue playing following his departure from Galaxy.
It is widely expected to sign for Paris Saint-Germain, Monaco or Chinese club Shanghai Shenhua.
He will announce his decision in the New Year.
© Cover Media
