Wow, that's amazing. I regularly, as in every few months, see homeless folks with $3000 bikes near the river in Eugene, OR. Unfortunately, the Eugene Police Department couldn't care less about bike thefts.

Many decades ago, a friend of my sister-in-law had his cheap bike stolen. He was the type of person who is very organized and he took to carrying his proof of ownership with him in case he saw it again. Well, one day he found it locked up on the local college campus. He called the campus cops and they waited for the person who had locked it up to return. When that person did show up, he claimed he had just borrowed the bike from his room-mate, who has dozens of them. He was more than happy to give the cop permission to search his home (in return for not being arrested for possessing stolen property) and the room-mate/bike thief had a very unhappy day.

It's nice when the cops are willing to take bike theft as seriously as they take car theft.