Monday, September 21, 2015

Uber and the declining value of Taxi medallions

Interesting article about the effects of Uber on medallion values:

"In Chicago, which has the country's second biggest fleet with roughly 7,000 taxis, the median sale price for a medallion hovered around $70,000 in 2007 before reaching a median sales peak of $357,000 in late 2013.
Since reaching that high point more than a year ago, the value of medallions in the Windy City have sharply declined and sales have ground to a near halt—with the city recording only seven medallion transfers in the first quarter of 2015—as the median sale price fell to about $270,000."

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