I'm in Massachusetts (ICC 2015 w/ mods) and want to finish my basement walls. I'm thinking about using a combination of 2" XPS, 1x2s horizontal 24" OC, Reflectix (double reflective insulation, here), 1x2s vertical 16" OC and drywall. This should give me R-17 with the XPS (R-10) and R-7 given a 3/4 inch air gap both under and over the Reflectix. Would this be legit? Am I asking for moisture problem with furring between two vapor barriers (XPS and Reflectix)?
Follow-up details: Basement walls are all below ground and over ten years without water after doing some exterior drainage. There is efflorescence so I assume at least some moisture.
I'm not sure where the frost line is, so certainly higher up the wall the ground behind it is below freezing. Not sure of the wall surface temp itself. The basement is generally quite cold.