This paper,from the perspective of time series analysis,explores the impact of monetary policy on the real estate market in both China and the United States.Through comparison,this paper discovers how those moral hazard factors constitute a role in their respective housing bubble.In particular,because the People's Bank of China reduced the deposit reserve ratio several times since 2012,this paper finds a potential real estate financial moral hazard and gives valuable suggestions to vigorous development of the credit reporting industry. <<