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Aroogah
It's already made landfall and dropped to a Cat 1. The problem now is the rain which always drops heaviest in the North East quadrant of the storm. Houston has had 16" of rain (400mm) so far and there will be 4 more days of that before the storm dissipates. I've seen reports of 24" of rain in some places (600mm). I've seen tropical storms drop 26" of rain in a 24 hour period.
Friends/acquaintences who evacuated from Galveston will probably need 4 months worth of rennovations to fix the water damage to their homes. The same will be true for people living near rivers or bayous and other lowlying areas. Houston is only 150ft above sea level and that's 60 miles inland from Galveston. Drainage is not a strong feature of the coastal plain.
I expect for this storm you'll see $2-$4 Billion in overall damages.