Munich originated as a monastery founded in 750 AD. In the late Middle Ages, it became the home of the Wittelsbach dynasty and underwent periods of growth and decline due to fires. In the 19th century, King Louis I modernized Munich and it grew significantly. Munich was later the site of Nazi rallies and suffered heavy bombing in WWII but was rebuilt. It now hosts cultural attractions like Oktoberfest and Olympiapark, site of the 1972 Olympics, and is considered one of the world's most livable cities.