I'm jealous of anyone who can hang dry clothes more then 2 months a year :)
I hang mine on an indoor drying rack in the bedroom. In winter it rarely gets below 60 degrees inside, but even then, clothes can be dry in 24 hours, especially if I leave the ceiling fan on and flip the clothes over halfway through.
Problems:
* can't let the laundry go too long in the winter because I can only dry one load per day
* if I leave clothes in the washer too long, they might mildew; if the clothes rack is too close to the wall or furniture, the wall or furniture might mildew; the drying rack might mildew
* clothes are cold and stiff in the morning when I put them on
* I have to be on the ball washing clothes that I will want for a specific occasion
* if I hang them outside, they might fade, get bird poop on them, or smell like wet dog (best idea: hang them on a covered porch); you might learn the hard way about stupid HOA or other rules
Advantages:
* elastic and other stretchy things last much, much longer (socks and undies)--they never stretch out but instead eventually gets holes or tears
* don't need to buy or repair a dryer (or, if you have a dryer, don't need to pay for the gas or electricity except for maybe a fan)
* clothes hold their shape better and are less likely to shrink
* if you can hang them outside, they might dry just as fast on a warm, dry, breezy day
* if you hang them outside, you might like the wet-dog (I mean fresh spring) scent
I love how long my socks and undies last now and will never go back, even though I do miss warm tumble-dried clothes on a cold morning.