Of all the innovative uses for geographic arbitrage, one of the most satisfying is monetizing one’s home and trading it for an itinerant life. That wanderlust can be satisfied in a variety of different ways. The online travel blogging community has made being a digital nomad in cheap areas like SE Asia and Latin America so commonplace that it’s become trite.
An interesting choice is to instead live on a cruise ship. It’s not just a way of life for the wealthy to live on a luxury boat like The World, but even worldwide voyages with one of the mass market lines (Princess, HAL, Oceania, etc) can be affordable, when considering all the expenses racked up on land in an expensive place like New York City.
At a certain point, if you own property in NYC and decide to rent it out, it may be able to generate enough income to subsidize all (or a great portion) of the cost of the cruise. And when you factor in food, entertainment, and travel all being bundled into the price of the cruise, it becomes an even better bargain.
Of course, this type of lifestyle is not appropriate for everyone. Not everyone likes life on a ship, whether due to claustrophobia, seasickness, or boredom. But it’s worthwhile knowing about the options to enhance life that others have found worthwhile and workable.