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Boston Taxis- What Are They Worth?.
it has seen countless historical events
who is making the revenue? The answer lies partially with loan providers who make money from masses who seek to drive their way to the American dream.
it is all about the medallion
To Boston taxi drivers — most of them immigrants who average 72 hours a week taking someone else’s taxi to net maybe $550 — the medallions are like gold, keys to better lives for themselves and their family. Therefore, the medallions that were $50 in 1935 now sell for a lot more, causing them to be the 2nd costliest in the united states after New York City’s. Since the price keeps climbing, the cabbies keep driving and driving and seeking to continue.
Plus the poor financial crisis and also the rising gas prices. It is no wonder that Boston taxis are costly.