Warning for Canadians with homes south of the border Canadians who like to spend the colder months of the year in the sunnier parts of the U.S. are being warned to watch out for the taxman. Advances in technology now make it even easier for the U.S. Internal Revenue Service to track so-called snowbirds, and if you rack up more than 182 days south of the border then they want your cash! The Financial Post reports that even an average of 120 days over a three-year period can attract the attention of the IRS. Those who fall foul of the taxman can expect a claim on their worldwide income and other penalties. Canadians are among the biggest foreign purchasers of U.S. real estate, but there may be fewer transactions this year due to the lower value of the Canadian dollar; unless of course it’s Canadians selling their property down south to cash in on the exchange rate. Read the full story Metropolitan areas see most population growth New figures from StatsCan show that the census metropolitan areas (CMAs) saw considerably higher growth than non-CMAs in the period between July 1, 2013 and June 30, 2014. On July 1, 2014, seven out of 10 Canadians were living in a CMA; more than a third were in Toronto, Montreal or Vancouver. During the past year, the population of the Toronto CMA broke the six million threshold, reaching 6,055,700, while the population of the Montréal CMA passed the foud million mark, reaching 4,027,100. Alberta and Saskatchewan saw the fasted growth in CMA population, led by Calgary (up 3.6 per cent) and followed by Edmonton (up 3.3 per cent), Saskatoon(up 3.2 per cent) and Regina (up 2.8 per cent). Kelowna (up 1.8 per cent), Winnipeg ( up 1.6 per cent) and Toronto ( up 1.5 per cent) were the only other CMAs in the country to post population growth rates higher than the national CMA average increase of 1.4 per cent. In contrast, Saint John, NB, was the lone CMA in Canada to see its population decline significantly, falling 0.5 per cent. Find out more about Canada's cities and neighbourhoods by using CREW's Investment Hotspot tool. Foreign investment could increase in Canada’s property market The ability of foreign investors to put their money into Canada’s real estate has been strengthened by current economic conditions. With the loonie weakened against some other currencies and investors in sectors that have benefitted from the lower oil prices seeing their equities rise in value, our property market looks increasingly attractive. However, with property prices high in the hottest markets, investors are diversifying. Reuters reports that Chinese investors who have already built residential property portfolios in areas like Vancouver are now looking at hotels, golf courses and wineries as potentially lucrative investments. David Goodman of HQ Commercial said that Chinese investors are also interested in property development more than ever with condos or mixed-use projects among their plans.