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How's life?
Literal
Living [topic-は] how is (polite)?
A short polite greeting pattern: [topic]+はどうですか asks after the state of X. 暮らし is literally 'living, livelihood' — as a greeting, it's asking about one's general circumstances, 'how are you getting on?' The pattern is very common and productive: お仕事はどうですか, 学校はどうですか, ご家族はどうですか.