The dust has settled after the news broke in mid-February about the surprising bankruptcies of two of Tamarack Resort’s majority owners. Still, important questions remain: if Idaho’s most prominent resort has such difficulties, what will follow? What does it all mean?

Not much, really. Idaho construction insiders insist, despite the financial problems at its most prominent resort, that the overall economy of the state has a decent shine to it, and may even be improving.

(Tamarack CEO Jean-Pierre Boespflug said the bankruptcy will have no impact on the resort’s day-to-day operation. “You can continue to do business with Tamarack Resort in a complete and normal way,” he said at the time of the filing.)

“Residential building has hit bottom, and we’re on the ascent,” said Steve Martinez, president of the Idaho Building Contractors Association. “Permits are going back up, the phone is ringing again. For months, it’s been remodel orders, but now we are seeing clients. It’s a little slower than the usual early-spring rush, but not much.”

If Martinez is right, the uptick couldn’t come at a better time. Idaho’s state economist reported at 79 percent drop in state tax revenue, “largely due to Idaho’s housing industry.”
 

Source: SunvValleyOnline.com