|This study divided the period into pre and post global financial crisis in 2008 to examine the dynamic correlation between liquidity and hosing price after examining the theoretical correlation. After confirming that there exists cointegration between the variables, vector error correction model was used to verify the granger casuality and perform impulse response analysis and variance decomposition analysis. As a result, total amount of money in circulation (M2) has more influential in pre crisis than in post crisis. And the mortgage was more influential in both periods than total amount of money in circulation. The impact on the trading price was incessantly strong, showing significant in pre-crisis than postcrisis. Thus, Abundant liquidity in global financial crisis that was influenced. In addition, it is observed that the psychological factors of expectation of increase in housing price due to financial crisis were decreased and LTV and DTI are useful tools for the policy to stabilize the housing price.