Jason - if condos in our area carried the same desirability factor as single family homes, then I might buy into this assessment, but that's simply not the case. Add to this the many extra lending hurdles that come with condos that don't exist with SFRs (litigation/occupany ratio requirements/insurance reserves/HOA default percentages), making most condos unfinanceable, now you have 2 large strikes against condos..
With the SFRs that are being built, most of these are high density projects done on zero lot lines, so they're also not as desireable as traditional homes constructed sizable yards....
I completely agree with Morgan about the highway 50 development....Folsom is starving for housing inventory, and these homes may help in this regard....but since it appears we're at least several years away, possibly more, from completing this development, and our current inventory levels are so low, the rollout of these homes most likely won't slow down home pricing increases!
best of luck, and let me know if I can be of further service to you!