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No thanks. I vote no.
I like other ideas. Like limiting one house per account(all alts being able to share it). I think coupling that with the decay system, adding new wards every year-ish and this condo feature, a lot less people will be housing starved.
They could also have an auto-spawn system. A system that "spawns" a new ward once all wards have been filled for X amount of months. This way small servers don't get an overload of housing/take up server space when it's not needed.
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Have you guys considered what they can/will do with the condos? They never said you can't do outdoor decoration did they?