Mass deportation of 11 million people is unlikely.  

Quote from @Jimmy Rojas: Through loopholes there are many home owners that are illegal immigrants, if they get deported , what will happen to their homes? 

I believe that, excluding "immediate deportations" of folks who cross the border and are immediately sent back, that the impact of deportations is small, and is largely isolated to the deportation of convicted criminals in jail or prison in mostly red states.

Thoughts on two perceived tale risks: deportations and tariffs.

Quote from @Paul Azad: Hi Brian, are you concerned about the new deportation policies by the new administration?

@Nathan Gesner well, the deportations for one.

Tariffs on goods and potential reduced labor force (illegals being deported) to build.I can't see changes in S8 benefits.

Without an ITIN/SSN, I'd be worried about running into KYC/AML violations, fed tax liens, the borrower being deported, lien enforcement, etc.

@Kyle Atans  or PHX when building stopped dead cold and they deported half the construction workers who happened to be 80% of the tenant base.. same with central CA building stopped  no deportation though :)I just bought in Vegas for semi retirement and tax purposes I kind of like were it sits now.. but no question your timing of that market was impeccable.. !!! 

Even with trump's aggressive plans for mass deportation and border security, I also have to think long term about future presidents' agendas towards border control too, and anticipate potential presidents being more loose on border security.