My little "no house" trial has gotten me thinking about the possibilities in Europe, where camping and getting around via bicycle are much more supported. Here are a couple articles I've come across that others may enjoy:
Rick Steves' Europe: Camping European Style
"Camping" is the international word for campground. Every town has a camping with enough ground to pitch a tent or park a caravan (trailer), good showers and washing facilities, and often a grocery store and restaurant, all for just a few dollars per person per night."
"Safety: Campgrounds, unlike hostels, are remarkably theft free. Campings are full of basically honest middle-class European families, and someone's at the gate all day. Most people just leave their gear zipped inside their tents."
"Free camping: Informal camping, or "camping wild," is legal in most of Europe. Low-profile, pitch-the-tent-after-dark-and-move-on-first-thing-in-the-morning free camping is usually allowed even in countries where it is technically illegal."
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Back Door Travel: Bicycle Touring in Europe
"Bicycle touring is cheap and rewarding. To see Europe on $20 a day, you don't need a time machine. What you need is a bike, farmers' markets, and campgrounds or hostels. Traveling this way, you'll not only save money and keep fit, but you'll experience a quieter side of Europe that travelers rarely see."
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A combination of camping and bicycling through Europe looks like it could work quite well, and if there are camping areas (or safe places to informally camp) near places I'd like to spend an extended period of time, it could make for a very interesting low-maintenance lifestyle. This is something I plan on testing out soon after graduating in about 6 months. The Netherlands looks like a great place to start (one of the best bicycling areas in the world).