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
DILL Becomes First Icelandic Restaurant To Earn Michelin Star

DILL Becomes First Icelandic Restaurant To Earn Michelin Star

by

The restaurant DILL, lauded by Grapevine on numerous occasions, has now earned the distinction of being the first Icelandic restaurant

News
Trump Was Right: Inside The Swedish Dystopia

Trump Was Right: Inside The Swedish Dystopia

by

US President Donald J. Trump recently gave a speech in Melbourne, Florida wherein he alluded to “what’s happening in Sweden

News
Court Confirms: No Jail For False Passports

Court Confirms: No Jail For False Passports

by

Reykjanes District Court took into consideration changes made to immigration law, which went into effect last January 1, when sentencing

News
Cloth Menstrual Pads Are Popular Again

Cloth Menstrual Pads Are Popular Again

by

Multiple-use, cloth menstrual pads are gaining in popularity once again, and one Icelander is making and selling her own. “We

News
Decision To Deny Muslim School Teacher Flight To US Made By American Authorities

Decision To Deny Muslim School Teacher Flight To US Made By American Authorities

by

The Grapevine has confirmed that a British school teacher who was denied entry onto a flight from Keflavík Airport to

News
Fears “Vape Law” Could Create Black Market For Vaping Liquid

Fears “Vape Law” Could Create Black Market For Vaping Liquid

by

A proposal that would put a number of regulations on the sale and use of e-cigarettes is poorly thought-out, and

Show Me More!