The 23-year-old lasted just 16 minutes as a second-half sub as United threw away a two-goal lead in their first match for nearly six weeks.
Swanson had been on the park only a minute when he picked up a yellow card for scything down Danny Galbraith - then saw red for a bizarre handball before Hibs hit a late leveller.
Houston - who saw David Goodwillie score twice in the first half - insists his side would have taken all three points had Swanson not been dismissed.
He said: "We'd have won the game with 11 men on the park. I'm disappointed and frustrated with Danny. He's a wonderful young talent, great football player and I don't mind players having aggression but it has to be controlled.
"When you go on the park you can't get a deserved yellow card because you can't go flying into tackles like that.
"He's not a malicious boy, it was a stupid tackle and the sooner Danny grows up and learns the better.
"At his second booking the ball was going miles out of the park. We've all done it in games, put your hand up.
Nowadays you know it's a yellow card so I've no complaints with that.
"Naturally he feels he's let the boys down. All the favours between him and me are all one-way just now.
"It was a fantastic first-half performance from us and I was really proud of the players."
Hibs boss Colin Calderwood was delighted with the way his side fought back.
He said: "We gained a point from a very tricky situation. The feeling after the second goal went in was a horrible experience but a characterbuilding one for everyone.
"Someone threw us a lifeline and we grabbed it. That's terrific to see."
Calderwood was delighted with sub Merouane Zemmama's first appearance since March.
He said: "He hasn't even had a full week's training with the group but he gave the team a lift when he came on at half-time."