ivader, or others where can I find blanket insulation? In Edmonton, Canada. thanks, originalhorsetrade

My son is finishing off the basement of his 70 year old home. He just bought it. the foundation is made of red clay blocks. He plans on putting a waterproof paint on the walls over these red clay blocks. do the studding, then put in insulation, he doesn't know weather to use wood studs, or steel, then sheet rock. Is this the correct order, does he need any type of plastic vapor barrier.? . Some say use steel studs, in case of water damage and termites. This will be his first project ever, so any help you can give him would be greatly appreciated. that's nana