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David And Victoria Beckham Lose £7 Million Over LA Mansion

It seems that not even Posh and Becks can avoid the harsh realities of the recession


They maybe one of the richest celebrities couples ever with an estimated fortune of £165 million, but David and Victoria Beckham have reportedly lost £7 million on their LA Pad.

The family, who moved to Los Angeles in the summer of 2007, following David's signing to LA Galaxy football club, bought the six bedroom Beverly Hills pad for £11 million.

Yet with Beckham brood wanting to leave the States, the couple had the mansion re-valued and found that their home was now worth only £4 million.

A source told the Daily 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."

The source continued: "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.”

Back For Good? (WENN)

The couple have properties all over the world, including their 22-acre Hertfordshire home, 'Beckingham Palace' that is worth £18 million.

Although if the family do return to England on a permanent basis they may not return to their Hertfordshire abode as Victoria was spotted house hunting in London last month.

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