Photo: Stone RF
Houston's economic growth is continuing to spread to nearby counties, especially in Waller County, where a new 4,000-home development is being built. One of the many drivers for this growth is how cheap the land in these areas is.
Lone Star College economist Hank Lewis says that from Conroe to Katy, the story is the same. He said, "A lot of people have moved to Conroe and Waller counties because they're trying to find lower home prices, and the attractiveness of those areas has attracted developers."
And of course, whenever more people move to an area, they're quickly followed by businesses, resulting in even more growth. Lewis pointed to the Energy Corridor in Houston as an example of this. He said, "It used to be just a couple of energy companies with some low-level mid-rise buildings, but now it's another skyline in the Houston area."
There are, of course, some concerns about infrastructure whenever you see rapid growth like this. Lewis pointed specifically to drainage issues and the ability to stave off flooding. Thankfully, he said it looks like these concerns have been taken into account. He said, "Some of these places are trying to space things out, leave more green spaces to act as a buffer, along with digging deeper bayous and setting up retention ponds."
Overall, Lewis thinks that as long as the economy doesn't see any major downturn, this growth is likely to continue.