Freehold Real Estate Advertisements - 1930
The Borough of Overbrook was annexed into the city of Pittsburgh in 1930. The development known as East Brookline, which up to that time was a part of Overbrook, was incorporated into the census tract of the Brookline community. This addition made Brookline the second largest community in the city and increased interest in local home sales and development.
The West Liberty Improvement Company continued their plans for development of the area. Recent property acquisitions made it possible to expand on their East Brookline building activities. As a result, the Freehold Real Estate Company launched another advertising campaign. Pictured here are several advertisements that appeared in the Pittsburgh Press in the summer of 1930.
With the country still reeling from the effects of the stock market crash of 1929, Freehold offered attractive incentives and loan opportunities to attract new home buyers. The program was successful, and many new lots were sold. Unfortunately, the country's financial problems escalated and within two years the economy bottomed out.
The long-term effects of the Great Depression on the Freehold Real Estate Company were disastrous. Defaults on the numerous loan packages forced the company to temporarily suspend operations. The Freehold office, located at Brookline Boulevard and Queensboro Avenue, which had been a fixture in the community since the early 1900s, closed in 1932. Their downtown office remained open.
This setback brought development efforts to a standstill, but the results were only temporary. As the country recovered from the depression, so did local housing market. By the end of the 1930s, Freehold was back in business and East Brookline was once again an attractive place for new home buyers.
Additional Newspaper Ads:
The Economic Recovery - 1937/1939
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