There are many issues (with my social phobia, people being 90% of them), but I like it a lot for one thing only, freedom.
Only recently I traveled for some months, which was awesome, mostly because of the outback. Otherwise most of the time it was staying close to work, but I still loved it so much always be close to the beach which I would never be able to afford otherwise. And over time I learned the safe places to stay, so I didn't have much issue with not being able to sleep because of noise.
But it's certainly not for everyone. Most of the problems don't bother me at all, when I can have so much freedom. But for most people it would be too high of a price to pay, or they don't enjoy the benefits that much.
I do miss having a house though, specially one with lawn and trees. But the cost is more than the benefits, specially since it means I have to slave my life away to pay for it. If I was super rich and could buy something in a nice place I would though.
Edit: I wouldn't mind if I could solve the issue of having to find a toilet every morning, which some times is quite urgent. But that's a city problem. In the outback it's... sort of a lot easier. If you ignore the cold and mosquitos when you do your business or having to find a place and dig and then bury it. But it's better because you always know you will find the place and it won't take too long.
Ehehehe, you guessed well. All of the above, plus beach showers when it's not too cold. Camping showers for when I'm in the outback. It's not usually a problem, and certainly wouldn't be in just 1 week, but it's a defining part of it.
I say having to find toilet is a much bigger issue, but even then rarely really a problem.