The Supreme Court on Tuesday turned down a major property-rights challenge to rent control laws in New York City and elsewhere that give tenants a right to stay for many years in an apartment with a below-market cost.
A group of New York landlords had sued, contending the combination of rent regulation and long-term occupancy violated the Constitution’s ban on the taking of private property for public use.
The justices had considered the appeal since late September. Only Justice Clarence Thomas issued a partial dissent.
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