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
Authorities Have Seized Valuables From Foreigners Multiple Times

Authorities Have Seized Valuables From Foreigners Multiple Times

by

The police have seized money and plane tickets from foreigners over two dozen times in just the past nine years,

News
Cops Want Law Against Stalking

Cops Want Law Against Stalking

by

The police believe a special article about stalking must be included in a new domestic violence bill from the Minister

News
Food Authorities Make Disputed Claims About Insect-Based Power Bar

Food Authorities Make Disputed Claims About Insect-Based Power Bar

by

The Icelandic Food and Veterinary Authority (MAST) has made claims about the Jungle Bar that its creators have refuted as

News
You Do Not Need Bottled Water In Iceland

You Do Not Need Bottled Water In Iceland

by

A guesthouse is recommending their own bottled water to its guests, but water utility services contend there is nothing wrong

News
“Stopover Buddies” Are Not Tour Guides

“Stopover Buddies” Are Not Tour Guides

by

Icelandair’s new “stopover buddy” service is not encroaching upon the work of tour guides, the airline says. Icelandair recently announced

News
Time To Get Your Eat On: It’s Bolludagur

Time To Get Your Eat On: It’s Bolludagur

by

If you’re a fan of whipped cream, puffed pastries and jam, we have the holiday for you. Today marks the

Show Me More!