How to set the default .Net framework version for projects in visual studio 2010

How do you set the default framework version for new projects in Visual Studio 2010?

What is the .NET Framework for Visual Studio 2010?

The functionality of Visual Studio 2010, . NET Framework 4 and Silverlight 4 creates a powerful and unique combination, opening up new opportunities for developers to build applications that take advantage of new and existing devices, as well as emerging platforms like cloud services.”

The easiest way I know of is the following

File -> New Project
Select the Framework you want
Create the project

From then on the new project dialog will default to the framework you selected in step #2.

I know that this is a very old question but I needed the answer to it several times now and I keep searching for it. So, I will share my experience here and hopefully in the future I would not need to search for it too long and those who are looking for the same can find it too. I just tested it with Visual Studio 2015. Open the registry hive HKEY_CURRENT_USER\SOFTWARE\Microsoft\VisualStudio\14.0\NewProjectDialog and look for the value FxVersion (REG_SZ type). For me it used to be 4.6.1 and I changed it to 4.6.2. Now when I create a new projects they target .NET v.4.6.2 by default.