Justin Bieber hurting from housing economy... and we just won the mega millions!! C'mon NOW!!!

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.  READ MORE