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
Immigration Directorate Ignored Warnings About Asylum Seeker

Immigration Directorate Ignored Warnings About Asylum Seeker

by

The Directorate of Immigration (UTL) reportedly ignored repeated warnings that an asylum seeker under their auspices was depressed and desperate

News
Storm’s A-Brewin’ This Weekend

Storm’s A-Brewin’ This Weekend

by

If you were planning on traveling or camping this weekend, better be sure to take some precautions. The Icelandic Met

News
Eve Online May Be For Sale

Eve Online May Be For Sale

by

Investors and potential buyers have been courting CCP Games, the company behind the popular MMORPG Eve Online, and the company

News
Watch A Time Lapse Video Of Climate Change Melting A Glacier

Watch A Time Lapse Video Of Climate Change Melting A Glacier

by

Thanks to the magic of Google Time Lapse, you can now watch the accelerating melting of the glacier feeding into

News
Scandinavians, Brits Have More In Common With Icelandic Settlers Than Icelanders

Scandinavians, Brits Have More In Common With Icelandic Settlers Than Icelanders

by

A series of tragic and catastrophic events in Icelandic history has had a big impact on the genetic composition of

News
Asylum Seeker Sets Self On Fire At Shelter

Asylum Seeker Sets Self On Fire At Shelter

by

Yet another asylum seeker has poured petrol over themselves and ignited it. Vísir reports this happened at the asylum seeker

Show Me More!