Bear in mind that local governments view property crime as a form of economic stimulus.

You'll be spending money to replace the stolen items, presumably some of that locally, and on repairs, presumably all locally. Meanwhile, whatever money the criminals get back in selling the stolen items (and subsequent profits by their fences) will also presumably be spent locally.

I mildly subscribe to this believe too, however it's more likely the police in (highly populated?) areas don't have the time / budget to thoroughly investigate everything.

Properly crime + little evidence = contact you're insurer thanks have a nice day.

  little evidence

No evidence collected != little evidence present.

I bet pretty much every thief leaves fingerprints now; police haven't taken prints for pure property crimes in years. (In contrast, SJPD did take prints for a car break-in in 1986).

Every week, you hear of a neighborhood getting hit by a gang, with 30+ vehicles affected -- total losses well into the felony range.

A gang could be shut down in a month if bait cars with GPS-tracked bags were used. Same with front-porch package thefts (always rampant).

A literal broken window fallacy example. Amazing.

It's not quite as fallacious. The negligent window breaker does not profit from the broken window.