Is There a Taxi-Medallion Bubble?

By
Photo: Chris Hondros/Getty Images

Despite worry that new laws requiring taxis to pick up in all five boroughs and upper Manhattan would drive down prices, three taxi licenses sold for record prices last week. While one source said the deals were inked before the new legislation was finalized, it seems as if the market to operate taxis will remain strong — as it also did in 2009, when just about everything else was tanking.
[NYP]