Justin Bieber: The Housing Crisis Is Hurting Me Too!

Justin Bieber is suffering the effects of the housing crisis ... just like millions of other homeowners ... because he can't get the mortgage he wants on the house he wants to buy.

TMZ broke the story ... Justin has made an offer on a 9,000 square foot estate in Calabasas, CA ... a ritzy area with gated communities 20 miles from Hollywood. We've learned the hang-up is that the property didn't appraise near the asking price of $7+ million.

Justin could easily afford to plunk down the asking price, but we're told his business manager has insisted that he take out a mortgage, because it makes good financial sense. But we're told the appraisal has come in significantly under asking -- more than a million under. As a result, Justin can't get the mortgage his business manager wants.

So Justin and the seller are haggling over price, trying figure out if they can agree on a price that will allow the 18-year-old to get a mortgage. We're told Justin is willing to pay $6 mil but the seller is blanching because he sunk way more than that into the property.

It's tough for everyone in these difficult times. Well, not really.