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If landlords collectively agree to double the rent of every apartment in a city, tenants can't simply move to a cheaper unit. There should be someone telling those landlords no.
But that’s the free market at work. Prices will continue to rise until they become unaffordable and landlords have empty properties. Where I live there is no rent control, and the prices keep rising as the economy and inflation rises. When rental properties are in high demand, rental prices increase across the board. When construction provides many new properties to buy, people buy, rental demand decreases, and rental prices stagnate. No need for regulation from some government body. I thought this was capitalism 101?
No that’s an oligopoly, not capitalism. Why are you arguing against your own best interests?
Free market doesn't mean that all rules go out the window. Colluding over prices eliminates the natural competition that occurs in a free market. That is why it is generally prohibited, though businesses still try it from time to time and they (rightly) get in trouble for it.
They do it all the time and mostly get away with it...
FTFY
When a handful of colluding parties control the entire supply of something people can't live without, that's not a free market. It's despotism. The parties in control can do anything they want, and anybody who tries to tell them no can be deprived of that resource and left to die.
That is precisely what is happening, by design, and it sucks. Wouldn't it be much, much better if there was a safeguard to prevent this?