"New York City cab medallions, which sold for as much as $1 million a year ago, now are priced at the $500K level, battered by competition from Uber, Lyft.

Some Independent owners, having paid upwards of $1 million, are “under water” by hundreds of thousands of dollars on the mortgages they owe on the medallions."

http://www.odwyerpr.com/story/public/6471/2016-03-08/uber-ly...