the end of World War I). He built the six-story Montauk Improvement Building in downtown Montauk (which is still the town's tallest occupied structure—as subsequent zoning has forbidden highrise structures), the Montauk Manor (which was a luxury hotel), dredged Lake Montauk and opened it to Block Island Sound to support his Montauk Yacht Club and the associated Star Island Casino, as well as the Montauk Downs golf club. Fisher lost his fortune in the Stock Market Crash of 1929. The land was sold back to the military in World War II. During World War II, the Army developed its land for Army, Navy and Air Force bases. Through the year,s East Hampton's wealth has evolved. The village has grown, and former farmland dominated by potato fields has been developed for residential housing. The village of East Hampton is considered to have the most dazzling row of mansions, located along Further Lane and Lily Pond Lane parallel to the ocean. While ostentatious displays of wealth occurred near the ocean ("south of the Montauk Highway"), much simpler houses and bungalows have been built in such areas as Springs and Montauk. In the 1950s and 1960s, following the Kitchen Debate between Nikita Khrushchev and Richard Nixon, more cheap affordable prefabricated homes called Leisurama were built as second homes in Montauk at Culloden Point. In November 2006, the median price of a house in the Town was US $895,000 compared with a national median for the U.S. of $225,000. Several houses in East Hampton now sell for prices in the tens of millions of dollars. Living in East Hampton is relatively expensive, in 2007 the cost of living was 168% of the national average. Service community A portion of the community consists of working people who provide services to the wealthy community. The service community within the town of East Hampton is centered in Springs which contains the more modest housing available. Artists' colony East Hampton's reputation as an artists' colony began with painter Jackson Pollock, who resided in Springs, New York in the 1940s and 1950s, with Lee Krasner, at what is now known as the Pollock-Krasner House and Studio. Many of his most famous paintings were painted in the barn, which he had converted into a studio. The property is now open to the public for tours, by appointment. It is now owned by Stony Brook University with scheduled appointments to view