By Jen Heger - Breaking Celebrity News Assistant Managing Editor

Britney Spears is enduring the woes of the real estate market crash, and is losing millions of dollars on the sale of her infamous Beverly Hills mansion, that was at the epicenter of her life during her very public breakdowns, Breaking Celebrity News is exclusively reporting.

Despite reports that the house sold for a "huge price" of $4,253,000, Spears actually purchased the property for $6,750,000 and the house had originally been listed for sale for $7,495,000.

"The house had been taken off the market last year after years of just languishing on the market. It became apparent that the house was going to be a total financial loss for Britney as she bought the mansion at the height of the real estate market and simply overpaid," a source close to the singer tells Breaking Celebrity News. "Britney and her dad realized that they were going to have to drastically slash the price and just unload the house at a loss. The house has nothing but bad memories for Britney, and she hasn't been in it since 2007, it has just been empty for all these years,"