Comment by chii

> they can set their prices as high as the market can afford.

which is the correct price - because you dont need a cartel to set the price at as high as the market can afford; each individual landlord chooses to price their rental at the highest profit they can, with the lowest chance of a vacancy.

A cartel makes it possible to set the price _higher_ than the market can afford. Which is why a cartel is illegal.