10% Of Homes Have Trouble Paying Loans

Published April 5, 2013

According to a new report released by Statistics Iceland on household finances of Icelanders [PDF link] 10.1% of households were behind on mortgage or rent payments in 2012 and 10.4% of households were in arrears with other loans during the same period.
Moreover, in 2012, 48.2% of houses identified as having difficulty making ends meet, with 36% of households unable to cover unexpected expenses that were to arise.

While these figures don’t bode well for the financial health of Icelanders, the statistics point to a slight improvement over the state of households in 2011. More than 50% of households had reported having a difficult or very difficult time making ends meet in 2011. Arrears on mortgage and rent payments have remained stable over the course of 2011 and 2012, but arrears on other loans have decreased year-over-year.
Single parents are more likely than other household types to be experiencing financial difficulties. Comparing single-person households, single men are more likely to be in arrears than a household run by a single woman.
The study was conducted by a survey of 3,091 households around Iceland over a three-month period of March through May 2012.



News
Police Chief Unmoved, Musicians To Play Festival Anyway

Police Chief Unmoved, Musicians To Play Festival Anyway

by

Despite a strong showing of solidarity, the Westman Islands chief of police will not change her policy of asking for

News
Gourmet Food Market Opens Again

Gourmet Food Market Opens Again

by

It’s that time of year again: time to check out some of the city’s finest gourmet offerings. Pressan reports that

News
Are Asylum Seeker Shelters Really Like Prisons?

Are Asylum Seeker Shelters Really Like Prisons?

by

During our visit to the asylum seeker shelter at Grensásvegur, many of the residents there compared the place to a

News
More Bands May Leave Festival, Mayor Meets With Artists

More Bands May Leave Festival, Mayor Meets With Artists

by

Two more bands have joined five others who have pledged to not play at the Merchants’ Weekend festival in the

News
Happening Sunday: Grapevine Grassroots At Húrra

Happening Sunday: Grapevine Grassroots At Húrra

by

The summer’s second Grapevine Grassroots is here! A free concert celebrating Reykjavík’s up-and-coming music and arts scene. The programme starts

News
Five Bands Quit Festival Over Police Silencing Tactics

Five Bands Quit Festival Over Police Silencing Tactics

by

Five bands have dropped out of the Merchants’ Weekend festival in the Westman Islands, citing the police chief’s silencing of

Show Me More!