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I'm arguing that increases in density won't have that much of an impact to the poor and middle class. They still won't be able to afford the urban core. Even if townhome prices dropped by 10% in Arlington, most of the poor/middle class won't be able to afford them.

And this is due to decades of anti-density policies, not hypothetical congestion prices. Outside of a recession, prices will likely not reverse, but there's a lot that can be done to slow down price increases through increased densification and urbanization, which requires reducing the space needed for cars. 

For those having to leave outside the core, improving mass transit makes the core more accessible. One of the best ways to do that is using market mechanisms to charge single occupancy vehicles for the negative externalities they push on to the city. 

As for London, I would love to see some data. The transport system makes much larger swaths of London metro-area accessible for a population over twice as large.