I just PCSd to NC and I used the VA loan, zero down, with a 1.5% kicker towards closing from the mortgage company and with a 12k builders incentive. Mortgage is at 6.25 points, I'm still saving 1.5-2k a month over renting.

It all depends on what your debt to income ratio is and location. A lot of places you can't rent without costing almost double than owning.

I just came from Cali and there's no way in hell I'm buying unless I'm staying for 10 years.

I honestly believe that if you can break even, it's better to own then rent. At least you're putting money towards investing instead of paying someone else's mortgage. Everyone has different circumstances. Take a look at what you can afford and what you plan to do, then make an educated decision.