Chicago, Illinois -- Tuesday, February 12, 2019
NOTE TO EDITOR: Rosales asked that we not show his full taxi number
Manuel Rosales, a Chicago taxi driver originally from Guatemala, poses for a portrait in his vehicle. Rosales sold his home in Guatemala in order to buy his medallion when prices were high. He and his attorney Furqan Mohammed are now working together to remediate the money he still owes.
Chicago taxi medallions, now worth about $25,000, were once valued at nearly $400,000. The market's crash and predatory loans caused many medallion owners to declare bankruptcy in a situation made worse by the introduction of ride share apps like Lyft and Uber to the market.
CREDIT: Alyssa Schukar for The New York Times