Sunday, December 04, 2011
The economics of NYC taxicab medallions.
Because these are restricted by the NYC government, the going price for a medallion is now $1 million. The price over time has outstripped even gold, making it one of the best "investments" ever:
(Of course, this is an artifact of the government restriction on medallion supply.)
Because these are restricted by the NYC government, the going price for a medallion is now $1 million. The price over time has outstripped even gold, making it one of the best "investments" ever:
(Of course, this is an artifact of the government restriction on medallion supply.)