Read the passage below. Make use of the information in this passage. How would the launch of the RLS affect the supply function of newhousing completion? Would this change improve affordability in the housing and rental markets?

"A key consideration in the planning of each GLS programme is the amount of supply

needed to meet future demand for the various types of properties, so as to support economic

growth and ensure the stability and sustainability of the property market. A marketbased

methodology is adopted in the determination of each GLS supply quantum.... The

methodology, however, is ... not as dynamic as ... market conditions require.... The

government would be cautious in releasing land supply until it received clear market signals.

In June 2001, the GLS Reserve List System was introduced.... injecting more flexibility to the

GLS supply.

GLS sites on the Confirmed List are launched for sale at predetermined dates, usually for

sites more urgently required for development to meet strategic objectives or to initiate the

development of key strategic areas. Meanwhile, the Reserve List overcomes the need for the

government to make adjustments to the GLS programme midstream, as it allows greater

scope for the market to adjust supply to meet demand. The Reserve List sites would not be

released immediately. Instead, developers could indicate their interest in certain parcels of

land to the government with a minimum price that they would be willing to pay. An open

tender would be triggered if: (1) the developer's committed minimum price... is acceptable to

the government, considering the government's reserve price; or (2) if there is more than one

application from unrelated parties with minimum bid prices close to the government'sreserve

price within a reasonable period. The minimum price would then be made public without

identifying the triggering party. The developer who triggered the site must participate in the

tender, or would lose his deposit. The Reserve List system provides the market with greater

flexibility to adjust supply."