THE real estate crunch and bad economy is affecting everyone — including Regis Philbin, who’s having trouble unloading one of his homes in Greenwich, Conn.

The subject arose on Tuesday’s “Live with Regis & Kelly” during a discussion of Matt Lauer’s run-in with a deer while biking in the Hamptons. (Lauer separated his shoulder.)

Reege needled “Live” EP Michael Gelman, who owns a house in the Hamptons, by holding up a Post story headlined “Hamptons homes going for nearly half off.”

(Reege told Gelman to sell the house during the real estate boom several years back.)

“Reege, I’m not the guy sitting on two pieces of property,” Gelman retorted. “I’m not the guy with the new house and his old house not being sold yet.”

“Nobody can sell a house these days,” Reege said. “It’s a great buy. Listen, it’s getting to be a better buy every day!”