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
“My  Life, My Death, My Choice” – A Reader Responds To Possible Assisted Suicide Legislation In Iceland

“My Life, My Death, My Choice” – A Reader Responds To Possible Assisted Suicide Legislation In Iceland

by

An Australian man who had to help his suffering wife pass away peacefully, and is now facing the prospect of

News
Greenland Trawler Returning To Iceland In Connection With Missing Person Case

Greenland Trawler Returning To Iceland In Connection With Missing Person Case

by

While police say no one is under suspicion of criminal activity in the case of a young Icelandic woman who

News
National Church Continues To Shrink In Membership

National Church Continues To Shrink In Membership

by

New figures from the National Registry show that Iceland’s national church is still losing more members than it is gaining,

News
“Warm Beach” To Open In East Iceland

“Warm Beach” To Open In East Iceland

by

In just a couple years’ time, Nauthólsvík will no longer be the only warm-water beach in Iceland. RÚV reports that

News
Search For Missing Woman Yields Disturbing Clues

Search For Missing Woman Yields Disturbing Clues

by

Surveillance footage recovered from Laugavegur on the night Birna Brjáns­dótt­ir disappeared, in addition to police finding what might be her

News
Tourist Information Centre Opens in City Hall

Tourist Information Centre Opens in City Hall

by

The Reykjavík Tourist Information Centre has opened at City Hall today, moving from its previous location at Aðalstræti 2. In

Show Me More!