Instead of "long-sighted" we ususally say "farsighted", and instead of "short-sighed" you can say "nearsighted".
The words "short-sighted" and "farsighted" are adjetives that describe a person.
Ex: I am farsighted, but my friend, Liana, is "short-sighted".
The words "short-sightedness" and "long-sightedness" are nouns, which describe a condition.
I suffer from short-sightedness, and my friend, Liana, suffers from long-sightedness.