In a bull market, people does not care whether it is LH or FH as the price difference is not so pronounced. But when the tide turns, people will see the value of FH when you compare them, especially when the 2 properties are in close proximity.
Again there are many points of contention when it comes to valuing the land, and location/ surrounding plays a most important part.
Whether or not LH becomes worthless or not, only time will tell
When you have eliminate the impossible, whatever remains, however improbable, must be the truth