fjripit, I'll start with the easy question first, regarding housing. There are plenty of rentals in the area and the numbers of such units will continue to expand as this housing situation continues it’s course.
There are a lot of homes on the market here. A LOT of homes. Many sellers are in a cold sweat trying to sell their homes. Home prices should be more reasonable next fall as sellers finally realize that they will have to reduce the PRICE substantially to sell. Instead of reducing prices some sellers have been playing the game of taking the house off the market and then turning around and re-listing it at a slightly reduced price. The months that the home has sat still on the market will disappear from sight and only the days since it was re-listed will appear. I hear that is legal to do in this state. The seller does not want you to know, that the home has been on the market for months and months before they re-listed.
People are, for the most part, still in denial concerning the overpriced real estate in this valley. One more summer of slow sales will wake some of them up. I think there will be some decent buys in 2008-2010. The average total family income is only about $50,000 a year. The median price of a home is about $282,900 and for a math sharp guy like you it will tell you a lot about local conditions.
Regarding work in the Tech fields. There is some work here with Micron and a few smaller firms. The state often hires for IT people and may be a good place to start. Try this for state jobs
http://www.dhr.idaho.gov/
This is the local job listing by the state dept. of commerce and labor http://cl.idaho.gov/DNN/Default.aspx?alias=cl.idaho.gov/dnn/idcl (broken link)
I hope you and your wife land on your feet in this situation. There are a lot of people displaced by Ford’s lay offs. Some are moving into Wyoming but with your skills Boise or Seattle will offer more potential.