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Timm Freeman's Santa Monica apartment has 17-foot ceilings, granite countertops and a guitar collection hanging on the wall. He has a built-in microwave, dishwasher and central air-conditioning. All in 350 square feet. In neighborhoods like Freeman's, diminutive dwellings are finding a toehold among renters who couldn't otherwise afford to live there.
You are not a financial failure if you rent. It may be the smartest financial move you make until you are ready to handle a mortgage, as too many homeowners have subscribed to the belief that a home is a savings account.
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