It's the moment many have been waiting for. Vancouver Mayor Gregor Robertson has decided it's time for his city government to take a crack at regulating the hot real estate market, which many believe is plagued by an unaffordability crisis.

The mayor announced the city will be imposing a tax on property owners who don't live in their homes. He provided no other details on exactly how this will work except to say that city staff members are working on it. However, the mayor said, action is "imminent" as city council's annual summer break begins at the end of July.

But before you housing hopefuls rejoice at the move, consider what some observers have pointed out. In March 2016, the City of Vancouver released a study finding that there's nothing unusual about its percentage of empty homes compared to other cities. Yet this vacancy tax is the step the city is taking towards alleviating unaffordability.

What say you, dear readers? In your view...