Yes, the structure of a home mortgage loan helps someone save when they might not have otherwise. But your original comment was that home ownership was helpful because it increased your security that you would have shelter - which is a different point.

If you lose your job and the mortgage has not been completely paid off, you are not in an appreciably better situation re: shelter if you own vs. rent. I suspect that the foreclosure process is more time consuming for the party trying to evict you than the landlord eviction procedures - but 1-3 months vs. 9-12 months* is probably not that useful a difference in the grand scheme of your life.

*These numbers are a guess, but I think the relative difference in time is roughly accurate.