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| Houston Apartment Locator Services : Houston Apartments |  | Contents | |
| Economy |
Houston Industries Plaza |
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| Houston has had several growth spurts in relation
to the Texas oil industry. Unlike most places, where high gas
prices are seen as harmful to the economy, they are generally
seen as beneficial for Houston as many are employed in the energy
industry. |
| Houston became a major port as a result of the
downfall of Galveston and the rise of the Houston Ship Channel.
The 1920s had Houston's first growth spurt. |
| The city's second growth spurt occurred in the
late 1970s, with the Arab Oil Embargo. Demand on Texas oil increased,
and many people from the northeast came down to profit from
the trade. When the embargo was lifted, the growth stopped.
However, Pasadena still has its refineries, and the Port of
Houston is among the busiest in the world. Houston has attempted
to build a banking industry in the city, but all of the companies
which had been started in Houston were merged with other companies
nationwide. It still is vital to the region, but most of the
banks operating there are not based in Houston. Real Estate
is also a large business in the Houston area, and NASA's presence
in the city's southeast side has provided an additional economic
boost. |
| Houston is unique in being the largest American
city without zoning regulations. |
| The city has the second lowest cost of living
in comparison to other major U.S. cities, and the housing in
Houston is among the most affordable in the Nation. |
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