I'd be all for it. A permanent site can rely on repeat business and a permanent economy can grow around it. A sort of Mecca for sports. The current process is a shambles. It's basically about telling the world how prosperous the host is, and for the IOC members it's all about milking the process for money. You end up building a ghost town someplace every four years at huge cost. I suppose the same arguments apply for…
Wouldn't having it in the same place every time make it more expensive/difficult for people to go see the games live? When the location changes every time, there will be a different set of people who go watch the games because it's nearby, but who possibly couldn't afford to (or wouldn't want to) travel to the other side of the world for them.
And let's face it: you have to be from a wealthy country to be able to do this in any case.