Tuesday, August 20, 2013
I read an interesting article in the Chicago Tribune that one of the best investments over the last year is not from Wall Street - but the New York city streets.
The value of a NYC Taxi medallion increased 49% to $1.3 million.
Interestingly, they say that one of the reasons is technology - specifically cabs accepting credit cards and from apps that allow people to call cabs directly from their phones.
Also, the number of medallions is capped at 13,336 - and it is illegal to drive a cab without one.