It was so cold in Banff, Alberta during the annual conference of the Canadian Home Builders’ Association held there last week that the ski resorts shut down twice, so it’s a good thing I wasn’t there for a holiday.

I was there for all the Council and Committee meetings, particularly the Economic Research Committee, featuring presentations from leading private and public sector economists and institutions as well as the major banks.

This meeting is technically “off the record,” which means I’m not supposed to be telling you what I heard, which I mention so you know that the speakers are all there to give their best advice to builders so they can make informed business decisions going forward.

Dr. Peter Andersen, consulting economist to the CHBA, cut right to the chase by saying that 2011 will be a good year as positive economic factors are going to outweigh the financial concerns. Among those positive factors, Andersen sees the U.S. finally moving into growth mode. He noted that the average age of U.S. motor vehicles has never been higher, and big-ticket purchases, including new homes, can’t be put off forever.

On the domestic front, Andersen highlighted the very positive employment situation in Canada, where 72 per cent of the new jobs are full-time, with the statistically important adult male component looking equally good. Speaking to interest rates, Andersen said they will be “homebuilder friendly” into 2012.

As for the Greater Toronto Area, Andersen described it as an “economic hotspot.”

"The Toronto Region doesn’t get the credit it deserves — it’s on fire,” he stated. As cold as it was outside, those words certainly warmed-up my spirits and outlook for the year ahead.

Stephen Dupuis is the President and CEO of the Building Industry & Land Development Association.