William Watson: One asset value that’s falling fast—taxi licences

You hate to revel in anyone’s economic misfortune, especially around Christmas time. But there’s a group in Quebec society that’s suffering a big capital loss these days and, though maybe it’s ungenerous to say so, that’s all to the good. That group is the owners of taxi licences.Licences are in legally limited supply but are transferable on open markets. Not so long ago they were selling for around $200,000. But lately, as this news story from CTV’s Montreal affiliate reports, owners have been having trouble getting $120,000.That’s rough on them, of course, and they deserve at least a little seasonal

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