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There is a real deterrence value of cameras. I helped a friend install fake cameras at his place of business that was getting vandalized repeatedly. As soon as the "cameras" went up the vandalism stopped. (real professional camera system installed $3000, fake cameras $300)

I know it might be only ancedotal evidence but it's also true that It's hard to prove a negative that's why it's easy to say based on the minuscule number of time that it has happened that OC makes you a target more than it deters people from attacking you (which you will probably never know since nothing happened when it does deter). It may not stop crime, but rather crime against you.

I am sure thieves and vandals will not stop being thieves and vandals but rather just move on to the next target when they see the camera, for the most part, it's the same principle with OC.