Taxi company sells for less than a house in San Francisco

Yes, there are still taxi companies operating in San Francisco.

Housing prices in the San Francisco Bay area are so ridiculously high that it's cheaper to buy the city's largest taxi company -- but we wouldn't recommend it.

That's what happened when the Yellow Cab Co-Op sold to a rival company, Big Dog City Corporation, for $810,000 on Friday.

For context, the average home price in San Francisco is $1.14 million, according to Zillow.

And don't think ride-sharing giants Uber and Lyft are entirely to blame for the death of the Yellow Cab Co-op. The San Francisco Examiner reported that the company's real death blow came from a flock of multimillion-dollar lawsuits resulting from traffic collisions.

One such crash put Yellow Cab Co-op on the hook for $8 million after a passenger was paralyzed when a cab ran into a stationary vehicle on the highway, writes SFGate.

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