I think a lot of people may save that way. My mother's side of the family is generations of family farms. A savings account, checking account, and the value of the farm -- no stocks, bonds, etc. I know a lot of blue collar workers who a in similar positions (minus the value of a farm).

As has been pointed out, in the past here on HN, maybe high schools should teach a class on personal finance. Maybe a lot of these people never think of anything outside of checking and savings accounts and think other sorts of investments ar eonly for the rich.

Not really. They still require several days to shop/negotiate/sign, at least as far as I've seen. True, it's 'more liquid' than raw equity, but it's still slow as shit in an emergency.