Let's say a bike would normally last you ten years, but it gets stolen every two. Each time you buy a new one. Therefore, there are now five as many bikes as needed. But then, why isn't the market saturated? How can it sustain such a high churn rate? It seems to me that bike thieves need a way to get bikes out of the market, too. They can do it in two ways: by hoarding bikes ( http://i5.photobucket.com/albums/y171/FO…
"Reporting people who have abnormal numbers of bikes"
There are a few well none spots in the bay area where most stolen bikes end up. The problem is it's hard to prove that these are the guys that steal the bikes, and the police don't really care that much.